Gold royalty firm Franco-Nevada's Q2 results miss estimates
FNV•Q2 results miss estimates
Franco-Nevada's second-quarter revenue rose 57% year over year, but missed analyst expectations. Adjusted earnings per share for the quarter also missed analyst expectations.
The company said growth was driven by higher precious metal and oil prices, as well as increased gold equivalent ounces sold.
Quarterly figures and analyst view
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $580.9 mln | $660.46 mln (3 analysts) |
| Q2 Adjusted EPS | Miss | $1.81 | $2.16 (8 analysts) |
The current average analyst rating on the shares is buy, with 13 strong buy or buy ratings, 4 hold ratings and no sell or strong sell ratings. The average consensus recommendation for the gold peer group is buy.
Wall Street's median 12-month price target for Franco-Nevada Corporation is C$387.82, about 15.6% above its August 10 closing price of C$335.43. The stock recently traded at 25 times the next 12-month earnings, versus a P/E of 25 three months ago.
2026 outlook and result drivers
Franco-Nevada sees 2026 GEOs sold at 510,000 to 570,000 ounces. The company expects 2026 production to be weighted to the second half, benefiting from Cobre Panamá deliveries, and said it is tracking toward the upper half of its guidance range due to oil prices and Cobre Panamá.
