Franco Nevada Net Income Rises to $468.6 Million
The royalty and stream company reported revenue of $650.7 million for the first quarter ended March 31, 2026.
Franco Nevada Corporation (FNV), a royalty and stream company focused on precious metals, reported net income of $468.6 million for the three months ended March 31, 2026. This compares to $209.8 million for the same period in 2025.
Total revenue for the quarter was $650.7 million, up from $368.4 million in the prior-year period. Revenue from royalty, streams, and working interests accounted for the entirety of the current quarter's total, whereas the 2025 period included $2.9 million in interest revenue. Gross profit rose to $526.3 million from $261.5 million.
Operating income reached $577.8 million, compared to $253.5 million in the first quarter of 2025. The company recorded a $63.8 million gain on the buy-back of royalty and stream interests during the period. Basic and diluted earnings per share were both $2.43, compared to $1.09 a share in the previous year.
Cash flows from operating activities were $520.4 million, an increase from $288.9 million in the first quarter of 2025. This included a $49.5 million receipt of deposits and interest from the Canada Revenue Agency. The company used $397.9 million for investing activities, primarily for the $449.4 million acquisition of royalty, stream, and working interests, offset by $97.5 million in proceeds from the buy-back of a royalty interest.
Financing activities used $80.8 million, including $80.5 million in dividend payments. Total shareholders' equity stood at $8.1 billion as of March 31, 2026, up from $7.6 billion as of December 31, 2025.
The company said that actual results may vary based on fluctuations in the prices of primary commodities, including gold, platinum group metals, copper, nickel, silver, iron-ore, and oil and gas.