First Majestic Silver revenues rise 57% on higher metal prices
The company ended the second quarter with a record $1,252.7 million in treasury
First Majestic Silver Corp. (AG), a precious metals producer, reported second quarter revenues of $415.5 million, a 57% increase compared to the same period last year. The company attributed the growth to higher realized silver and gold prices.
Production levels saw modest gains during the quarter. Silver production rose 3% and gold production increased 2% year-over-year. Silver and gold bullion inventories grew to $78.0 million.
Net earnings for the quarter were $109.4 million, with earnings per share of 0.22 a share. The company said a focus on operational efficiency led to margin expansion.
Cash flow from operations before changes in working capital and taxes reached $248.3 million, or 0.50 a share. This represented a 116% increase from the $114.9 million, or 0.24 a share, reported in the second quarter of 2025.
Free cash flow for the quarter was $194.6 million, which followed the payment of $46.8 million in cash income taxes. This result contributed to a 34% increase in the company's treasury position since December 31, 2025, rising from $937.7 million to $1,252.7 million.
Restricted cash held within the treasury totaled $159.4 million, compared to $144.3 million at the end of 2025.