Franco-Nevada(US:FNV) ZACKSยท2024-09-12 16:30Company Performance - Franco-Nevada reported adjusted earnings of 75 cents per share for Q2 2024, missing the Zacks Consensus Estimate of 78 cents, representing a 21% year-over-year decrease [2] - The company generated revenues of $260 million in the reported quarter, down 21.2% year over year, primarily due to lower contributions from Antapaccay, Candelaria, and Energy assets, despite record gold prices [3] - The company sold 82,350 Gold Equivalent Ounces (GEOs) in the reported quarter, a decrease from 132,033 GEOs in the prior-year quarter [4] - Adjusted EBITDA was down 19.5% year over year to $222 million, with an adjusted EBITDA margin of 85.3%, compared to 83.5% in the prior-year quarter [4] Financial Position - At the end of Q2 2024, the company had $1.44 billion in cash, an increase from $1.42 billion at the end of 2023 [5] - Operating cash flow for the first half of 2024 was $373 million, down from $472 million in the prior-year period [5] - Franco-Nevada is debt-free and has $2.4 billion in available capital for portfolio expansion and dividends [5] Industry Comparison - Franco-Nevada belongs to the Zacks Mining - Gold industry, where Agnico Eagle Mines (AEM) reported revenues of $2.08 billion, a year-over-year increase of 20.9% [9][10] - Agnico's EPS for the same period was $1.07, compared to $0.65 a year ago, and is expected to post earnings of $0.90 per share for the current quarter, reflecting a year-over-year change of 104.6% [10]