Canada · Delayed Price · Currency is CAD Franco-Nevada Earnings Call Transcripts
Fiscal Year 2026
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A disciplined, low-risk approach and strong balance sheet underpin robust growth, with 12–13% organic expansion expected by 2030 and up to 45% growth possible if Cobre Panamá returns to full operation. Strategic partnerships, major new deals, and a focus on resource optionality drive long-term value, while financial flexibility and ESG leadership remain central.
Fiscal Year 2025
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Record 2025 results with 75% earnings growth, 64% revenue increase, and a 16% dividend hike. Portfolio diversification, new asset acquisitions, and strong precious metal prices drive robust outlook, with 13% organic GEO growth expected by 2030, excluding Cobre Panamá.
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Record Q3 results driven by high gold prices, new acquisitions, and strong asset performance, with revenue up 77% and adjusted EBITDA up 81% year-over-year. Guidance for 2025 GEOs sold was raised, and the company remains debt-free with over $1.8 billion in available capital.
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Record Q2 2025 results driven by high gold prices and strong portfolio performance, with revenue up 42% and adjusted EBITDA up 65% year-over-year. Recent acquisitions and positive developments at Cobre Panama and New Prosperity strengthen the five-year growth outlook.
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The conference highlighted a strategy focused on scalable royalties, strong shareholder alignment, and a diversified portfolio with both near-term cash flow and long-term optionality. Recent major acquisitions and innovative deal structures have strengthened growth prospects, while a robust balance sheet and disciplined capital management support continued expansion.
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Record quarterly results driven by higher gold prices and strong asset performance, with revenue up 43% and adjusted net income up 51% year-over-year. The company remains debt-free, well-capitalized, and expects further growth from new and ramping assets.
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The meeting confirmed all motions, including director elections and auditor appointment, and highlighted strong financial growth, consistent dividend increases, and a robust five-year outlook. Strategic focus remains on precious metals, disciplined investments, and supporting strong management teams.
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Management outlined a disciplined strategy focused on per-share value growth, financial flexibility, and high-return investments. Key projects like Cobre Panama, Porcupine, Tocantinzinho, Valentine, and Cascabel are driving near- and long-term growth, with 2025 guidance showing 7% GEO and 25%+ revenue increases.
Fiscal Year 2024
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Strong Q4 and 2024 results were driven by higher gold prices and robust production, with GEO sales near the top end of guidance. Over $1.3 billion was deployed in acquisitions, and 2025 guidance projects 7% growth in GEOs, with a 25% revenue increase expected.
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Record gold prices in Q3 2024 drove strong revenue and margins, offsetting lower GEOs due to Cobre Panamá's absence. Guidance for 2024 GEOs was revised downward, but revenue outlook improved, and the company remains debt-free with a robust deal pipeline.
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Q2 2024 saw higher sequential revenue and cash flow from record gold prices, but year-over-year results declined due to the loss of Cobre Panama and lower output at key assets. New royalty and stream acquisitions are expected to drive future growth.