Franco-Nevada Q2 Earnings Beat Estimates, Revenues Rise 42% Y/Y

Core Insights - Franco-Nevada Corporation (FNV) reported adjusted earnings of $1.24 per share for Q2 2025, exceeding the Zacks Consensus Estimate of $1.10, marking a 65% year-over-year increase [1][7] - The company achieved record revenues of $369 million in the quarter, a 42% increase year-over-year, driven by high gold prices and contributions from Precious Metal assets [2][7] - Adjusted EBITDA surged 64.8% year-over-year to a record $366 million, with an EBITDA margin of 99%, up from 85.3% in the prior-year quarter [3][7] Financial Performance - Franco-Nevada sold 92,449 Gold Equivalent Ounces (GEOs) in the reported quarter, an increase from 82,350 GEOs in the same quarter last year [3] - The company had $0.16 billion in cash at the end of Q2 2025, down from $1.45 billion at the end of 2024, but recorded an operating cash flow of $719 million in the first half of 2025, up from $373 million in the prior-year period [4] - FNV has available capital of $1.1 billion [4] Future Outlook - The company anticipates an increase in GEO sales for the second half of 2025, expecting total GEO sales to range between 465,000 to 525,000 GEOs [5] Stock Performance - Franco-Nevada's shares have increased by 43.8% over the past year, compared to the industry's growth of 53% [6]