Wheaton Precious Metals credits higher gross margin for Q3 2026 net earnings growth
WPM•Wheaton Precious Metals reported third-quarter 2026 net earnings of $410.25 million, up 11.7%, and revenue of $771.73 million, up 62%. Adjusted net earnings rose 45.8% to $409.84 million.
1. Quarterly results
Wheaton Precious Metals attributed net earnings growth primarily to higher gross margin, while revenue growth was driven mainly by higher realized commodity prices. Sales volumes increased 18.8%, supported by production following the BHP Antamina stream acquisition, new mine production and stronger Peñasquito output. Reported earnings growth was constrained by the absence of an $86 million Cangrejos buyback gain, higher taxes and acquisition-related interest expense.
