FNV: Higher prices lifted Q3 earnings as revised GEO guidance narrowed toward midpoint

Jefferies maintained a Hold rating on Franco Nevada (FNV) with a $265 price target. Q3 2026 EPS beat estimates, but revenue, EBITDA, and free cash flow missed. The company adjusted its 2026 guidance, cutting precious metals but raising diversified revenue expectations. FNV trades at a P/E of 32.8 and PEG of 0.42, with a 92% gross profit margin. Q2 2026 results also missed expectations, though the company cited record commodity prices and increased production as positives.

FRANCO NEVADA Corp (FNV) furnished an SEC Form 6-K — earnings release. Exhibit 99.1 ​ ​ ​ NEWS RELEASE ​ ​ NEWS RELEASE Toronto, November 11, 2026 (in U.S. dollars unless otherwise noted) Franco-Nevada Reports Q3 2026 Results Tracking towards the mid-range of annual guidance Franco-Nevada generated strong Q3 financial results. Revenue, cash flow and

Franco-Nevada reported Q3 revenue up 13% YoY and adjusted net income up 33%, despite a 6% drop in gold equivalent ounces sold. The company revised its FY26 guidance, targeting diversified revenue of $300M–$330M and noted $4.8B in available capital for mine expansions.

Franco-Nevada (FNV) reported Q3 net income of $395.5M ($2.05 per share), up 38% YoY, and revenue of $549.3M, up 13%. Higher gold and oil prices drove revenue growth, despite lower precious metal deliveries. The company narrowed its 2026 guidance for gold equivalent ounce sales.

Franco-Nevada Corp. (FNV) reported Q3 earnings of $395.5 million, or $2.05 per share, exceeding analyst expectations of $1.77 per share. Adjusted earnings were $1.89 per share, with revenue at $549.3 million.

Franco-Nevada reported Q3 GAAP EPS of $2.05, exceeding estimates by $0.30, while revenue of $549.3M fell short by $3.03M. Revenue increased 12.6% year-over-year. The company also provided a comparison of its year-to-date performance against 2026 guidance.