It recorded operating cash flow of $195.2 million in the reported quarter, up from the prior-year quarter’s $143.6 million.įranco-Nevada is debt free and uses its free cash flow to expand its portfolio and pay dividends. The company had $209.8 million cash in hand as of Mar 31, 2020, up from $132.1 million reported as of Dec 31, 2019. Platinum prices went up 9.7% year over year to $903 per ounce, while palladium prices jumped 59.2% year over year to $2,284 per ounce. Silver prices averaged $16.90 per ounce in the quarter, up 8.5% year over year. In first-quarter 2020, the average gold price was $1,583 per ounce, 21.4% higher than the year-ago quarter.
The year-over-year improvement of 10.6% was driven by higher contributions from Cobre Panama, Guadalupe-Palmarejo and Hemlo, offset by lower contributions from Candelaria, Antapaccay and Sabodala mines.ĭuring the reported quarter, adjusted EBITDA climbed 36.8% to $193 million from the $141 million witnessed in the comparable period last year. The company sold 134,941 Gold Equivalent Ounces (GEOs) in the quarter, up from 122,049 GEOs in the prior-year quarter. In the reported quarter, 89% of revenues were sourced from gold and gold equivalents (69.4% gold, 9.2% silver, 9.4% platinum group metals and 1% from other mining assets) and 11% from energy (oil, gas and natural gas liquids). Further, the top line beat the Zacks Consensus Estimate of $234 million. The company generated revenues of $241 million in the reported quarter, reflecting a year-over-year improvement of 34%. Additionally, the bottom line surpassed the Zacks Consensus Estimate of 55 cents. Will the recent negative trend continue leading up to its next earnings release, or is Franco-Nevada due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.įranco-Nevada Q1 Earnings & Sales Top Estimates, Up Y/Yįranco-Nevada Corporation reported adjusted earnings of 58 cents per share in first-quarter 2020, up 65.7% from the prior-year quarter. Shares have lost about 8.4% in that time frame, underperforming the S&P 500. It has been about a month since the last earnings report for Franco-Nevada (FNV).
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