Hecla Mining's Q3 revenue rises 18%, beats estimates
HL•Hecla Mining's third-quarter revenue rose 18% quarter over quarter to $394.82 million, beating the $340 million estimate. Free cash flow reached a record $151.24 million, and the company raised the low end of its 2026 silver production outlook while lowering cost and capital investment guidance.
1. Quarterly results
Hecla Mining reported third-quarter revenue of $394.82 million, up 18% quarter over quarter and above the $340 million estimate. Net income from continuing operations rose to $149.60 million from $118 million in the second quarter. Adjusted EBITDA was $211.47 million, compared with a $190.45 million estimate, and free cash flow nearly tripled year over year to a record $151.24 million.
2. Production and guidance
Higher revenue and silver sales volumes were mainly driven by shipment timing at Greens Creek, while record tons milled and higher silver grades at Keno Hill boosted production. Hecla sees 2026 consolidated silver production of 15.3 million to 16.1 million ounces, raising the low end of its prior outlook. It improved 2026 total silver cash cost guidance to $4.25-$4.75 per ounce and all-in sustaining cost guidance to $11.50-$12.50 per ounce, and lowered total capital investment guidance to $198 million-$214 million from $208 million-$223 million.
