OTTAWA (dpa-AFX) - Franco-Nevada Corporation (FNV) reported higher third-quarter earnings and revenue, driven by stronger gold and oil prices, and said it was tracking toward the midpoint of its 2026 annual guidance.
Net income for the third quarter increased to $395.5 million, or $2.05 per share, from $287.5 million, or $1.49 per share, in the prior-year quarter.
Revenue rose 13% to $549.3 million from $487.7 million a year earlier.
Gold and oil prices boosted revenue, partly offsetting lower precious metal deliveries. The company sold 130,435 gold equivalent ounces, down 6% from 138,772 ounces in the year-ago quarter. Revenue from precious metal assets totaled $462.2 million, compared with $416.5 million, while diversified assets generated $86.8 million, up from $67.1 million.
Adjusted net income, a non-GAAP measure, increased 33% to $364.5 million, or $1.89 per share, from $275 million, or $1.43 per share.
Franco-Nevada narrowed its 2026 guidance range for total gold equivalent ounce sales to 525,000 to 555,000 ounces, from its earlier range of 510,000 to 570,000 ounces.
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