Crispr Therapeutics shares tumble after significant earnings miss
TORONTO -On Monday, Franco-Nevada Corporation (NYSE:FNV) reported fourth quarter earnings and revenue that topped analyst expectations, driven by strong production from key assets and record gold prices.
The gold-focused royalty and streaming company also provided an upbeat outlook for 2025 and beyond.
Franco-Nevada shares edged up 1.20% in premarket trading following the earnings release.
Franco-Nevada posted adjusted earnings per share of $0.95 for Q4, exceeding the consensus estimate of $0.92. Revenue came in at $321 million, above analyst projections of $309.18 million.
The company benefited from increased production at mines like Candelaria and contributions from newly constructed assets like Tocantinzinho and Greenstone. Record gold prices in the quarter also boosted results.
"Our portfolio delivered a strong fourth quarter resulting in GEO sales for the year that were near the top end of our revised GEO guidance range," said CEO Paul Brink.
For 2025, Franco-Nevada expects revenue to rise more than 25% compared to 2024 levels. The company anticipates a 14% increase in precious metal gold equivalent ounces (GEOs) and a 7% increase in total GEOs versus 2024, assuming no contribution from the halted Cobre Panama mine.
Looking further ahead, Franco-Nevada forecasts precious metal GEOs to grow 18% by 2028 and 11% by 2029 compared to 2024 levels. Total (EPA:TTEF) GEOs are projected to increase 15% by 2028 and 12% by 2029.
The long-term outlook reflects expected production starts at several new mines and expansions at existing operations. However, it does not include any potential restart of Cobre Panama, which could add 130,000-150,000 GEOs annually if operations resume.
The company maintained its strong financial position, ending 2024 with $2.4 billion in available capital and no debt.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.