Franco-Nevada Reports Q3 2026 Results

(TSX:FNV) Franco-Nevada reported strong Q3 2026 financial results, with revenue, cash flow, and earnings all higher than the prior-year period, driven by stronger gold and oil prices. Paul Brink, President & CEO, stated that precious metal GEO deliveries were slightly below expectations, but strong oil prices boosted diversified revenue, and the company is tracking towards the mid-range of annual guidance. In Q3 2026, Franco-Nevada generated $549.3 million in revenue, a 13% increase from Q3 2025, and sold 130,435 GEOs, a 6% decrease from Q3 2025. Operating cash flow for Q3 2026 was $429.2 million, up 23%, and Adjusted EBITDA was $493.9 million ($2.56/share), up 15%. Net income for Q3 2026 was $395.5 million ($2.05/share), up 38%, and Adjusted Net Income was $364.5 million ($1.89/share), up 33%. As of September 30, 2026, Franco-Nevada had $4.8 billion in available capital and no debt. Year-to-date (YTD) 2026 revenue reached $1,780.9 million, up 45% and a new YTD record, with 399,193 GEOs sold (+6%) and 369,082 Net GEOs sold (+9%). YTD operating cash flow was $1,432.1 million (+34%), Adjusted EBITDA was $1,615.5 million ($8.38/share, +45%), net income was $1,218.1 million ($6.32/share, +64%), and Adjusted Net Income was $1,172.0 million ($6.08/share, +63%), all new YTD records. In Q3 2026, precious metal assets accounted for 84% of revenue (70% gold, 12% silver, 2% PGM), and 89% of revenue was sourced from the Americas (39% South America, 23% Canada, 17% U.S., 10% Central America & Mexico). Portfolio additions included an amended royalty agreement with Discovery Mining Ltd. on the Porcupine Complex in Ontario, Canada, for $8.0 million, and a $121.0 million (A$170.0 million) 1.45% gross royalty over Minerals 260 Limited's Bullabulling gold project in Australia, increasing the total royalty to 3.90%. Franco-Nevada also subscribed for an additional $21.0 million (A$30.0 million) of Minerals 260's ordinary shares. At Cobre Panamá, production remains halted, but stockpile processing resumed after an earthquake in Panama on October 9, 2026, with facilities reported stable. First Quantum estimates Cobre Panamá will produce 30,000 to 40,000 tonnes of copper in 2026, with a total of approximately 70,000 tonnes to be processed by 2027. Franco-Nevada expects to receive approximately 23,100 gold ounces and 265,000 silver ounces from Cobre Panamá stream deliveries, with one-third of deliveries anticipated in H2 2026. A partial impairment reversal of $10.3 million was recorded in relation to expected gold and silver ounces from Cobre Panamá. Revised 2026 guidance includes gold ounces sold of 355,000 to 385,000, silver ounces sold of 4,700,000 to 5,000,000, PGM ounces sold of 30,000 to 34,000, diversified revenue of $300 to $330 million, and GEOs sold of 525,000 to 555,000. The company remains top-rated by Sustainalytics, AAA by MSCI, and Prime by ISS ESG. Franco-Nevada expanded its Mining Industry Scholarship Program to support 23 students and committed to the Enseña Perú education initiative and community development with Minera Panamá, S.A. In Q3 2026, GEOs sold from precious metal assets were 110,904, a 7% decrease from Q3 2025, due to lower deliveries from several assets, partially offset by higher deliveries from others. Notable project updates include Candelaria (Chile), Antapaccay (Peru), Antamina (Peru), Tocantinzinho (Brazil), Condestable (Peru), Yanacocha (Peru), PSJ Cobre Mendocino (Argentina), Calcatreu (Argentina), Gurupi (Brazil), and Salares Norte (Chile).

Burkina Faso Stream Update

(TSX:FNV) Franco-Nevada Corporation announced that it is aware of a news release issued by Riverstone Karma SA regarding a local court decision in Burkina Faso purporting to nullify the stream agreement related to the Karma Mine. The stream agreement is governed by Ontario law. Franco-Nevada believes the Burkina Faso judgement is not valid and is seeking to have the judgement vacated. The company is also pursuing its own legal remedies in Ontario and elsewhere in accordance with the dispute resolution provisions in the agreement against Riverstone Karma SA, its parent Néré Mining SA and other relevant affiliates. Franco-Nevada is debt-free and uses its free cash flow to expand its portfolio and pay dividends. The company states that it is the leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets. Franco-Nevada trades under the symbol FNV on both the Toronto and New York stock exchanges.

Franco-Nevada Launches 2026 Asset Handbook and Sustainability Report

Franco-Nevada Corporation (TSX: FNV, NYSE: FNV) announced the publication of its 2026 Asset Handbook and 2026 Sustainability Report. The company highlights a compounded annual growth rate of 17% in total shareholder returns since its 2007 IPO, growth in annual GEOs of 3x and revenue of 12x since 2008, and nineteen consecutive years of dividend increases totaling approximately $2.8 billion paid. In 2025, 121 cash-flow producing assets generated approximately $1.66 billion in Adjusted EBITDA. Franco-Nevada reports no debt, $3.1 billion in available capital, and a long-life portfolio with a 34-year M&I Royalty Ounce Mine Life and a further 12-year Inferred Royalty Ounce Mine Life.