First Majestic Silver Corp (TSX:AG)

Q2 2026 First Majestic Silver Corp Earnings Call Transcript

Jul 30, 2026 / 03:30 PM GMT

Release Date Price: C$21.93 (+2.43%)

Transcript

Key Points

Positve

Record revenue of $416 million, up 53% year-over-year.
Strong EBITDA of $252 million, up 110% from the prior year.
Silver production of 3.8 million ounces in Q2, with H1 production at 50% of revised guidance.
Robust exploration with 94,000 meters drilled in Q2 and 160,000 meters in H1.
Strong treasury of $1.25 billion, providing financial flexibility.

Negative

All-in sustaining costs impacted by inflation and large workforce bonuses tied to silver prices.
Finished goods inventory increased to over 1 million ounces due to a drop in silver prices.
Labor disruptions at San Dimas mine, though currently resolved.
Capital spending is back-ended, with only 37% of annual guidance spent in H1.
Uncertainty around tax settlement in Mexico and future capital needs for Jerritt Canyon.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AG.TO - First Majestic Silver Corp
Q2 2026 First Majestic Silver Corp Earnings Call
Jul 30, 2026 / 03:30PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by. This is the conference operator. Welcome to the first Majestic Silver Q2 2026 Financial Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded.

After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press then 1 on your telephone keypad. If you're participating through the webcast, you can submit a question in writing by using the form in the lower section of the webcast frame on your screen.

Should you need assistance during the conference call, you may reach an operator by pressing then 0.

I would now like to turn the conference over to Mr. Keith Neumeyer

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