Franco-Nevada Q1 Revenue Jumps 77% to $650.7M, Net Income +123%
Franco-Nevada posted record Q1 2026 revenue of $650.7 million, up 77% year-over-year, while selling 136,353 gold equivalent ounces, an 8% increase. Operating cash flow reached $520.4 million (+80%), adjusted EBITDA climbed 84% to $591.9 million, net income soared 123% to $468.6 million, and available capital stood at $3.4 billion, as Tom Albanese was appointed independent non-executive chair.
1. Record Q1 Financials
Franco-Nevada generated record revenue of $650.7 million in Q1 2026, up 77% year-over-year, and sold 136,353 GEOs, an 8% increase. Operating cash flow reached $520.4 million (+80%), adjusted EBITDA was $591.9 million (+84%), net income rose 123% to $468.6 million, and available capital totaled $3.4 billion.
2. Commodity and Asset Contributions
Strong gold and silver prices contributed to revenue growth, complemented by contributions from newly acquired assets such as Côté Gold, Porcupine and Valentine, and a $49.5 million refund from the Canada Revenue Agency. Precious metals accounted for 87% of revenue, while diversified assets, including iron ore and gas interests, added to overall performance.
3. Leadership Update
Tom Albanese was appointed independent non-executive chair following David Harquail’s transition to chair emeritus, bringing experience from prior leadership roles at Rio Tinto and Vedanta. The board credited Harquail for creating significant shareholder value since the company’s IPO and emphasized continuity in Franco-Nevada’s low-cost, inflation-insulated royalty model.