Q1 2026 Franco-Nevada Corp Earnings Call Transcript
Key Points
- Franco-Nevada Corp (FNV) reported record financial results for Q1 2026, with revenue increasing by 77% to $650.7 million.
- The company benefited from higher commodity prices, particularly gold and silver, which saw significant year-over-year increases.
- Franco-Nevada Corp (FNV) completed four new acquisitions, enhancing its portfolio with attractive resource optionality in good mining jurisdictions.
- The company received an upgrade of its MSCI ESG rating from AA to AAA, placing it in the top tier among mining and precious metal players.
- Franco-Nevada Corp (FNV) has $3.4 billion in available capital, providing a robust pipeline of business development opportunities.
- The company experienced an increase in cost of sales due to higher fixed costs paid for stream ounces.
- Depletion costs increased to $77.9 million, attributed to recent transactions with higher per ounce depletion assets.
- There was a decrease in diversified GEOs sold, despite diversified revenue being higher year-over-year.
- The company faces potential challenges with the new transfer pricing rules in Canada, although they are still evaluating the impact.
- Franco-Nevada Corp (FNV) did not receive any deliveries from Casa Berardi in Q1, which may affect short-term revenue.
Good morning, and welcome to Franco-Nevada Corporation's first quarter 2026 results conference call and Webcast. This call is being recorded on May 13, 2026. (Operator Instructions)
I would now like to turn the conference over to your host, Bonavie Tek, VP Finance and Investor Relations. Please go ahead.
Thank you, Vincent. Good morning, everyone. Thank you for joining us today to discuss Franco-Nevada's first quarter 2026 results. Accompanying this call is a presentation, which is available on our website at franco-nevada.com, where you will also find our full financial results. The presentation is also available to view on the webcast.
During our call this morning, Paul Brink, President and CEO of Franco-Nevada, will provide introductory remarks; followed by Sandip Rana, Chief Financial Officer, who will provide a brief review of our results. This will be followed by a Q&A period. Our executive team is available to answer any questions. Participants may submit questions by
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