ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 3.Nov.2025, Words: 266) — Franco-Nevada‘s record quarterly results benefited from a combination of higher gold prices, strong operations, new acquisitions and the sale of Cobre Panama copper concentrate stockpiles.
“Our acquisition of six meaningful new gold interests over the last 18 months has positioned us for strong growth over the long-term and boosted our gold price exposure, with 85% of our revenue being from precious metals in the quarter,” Franco-Nevada CEO Paul Brink said on 3 Nov. 2025 in an official statement.
“Following these results, we have narrowed our 2025 Total GEO sales guidance range, toward the higher end of our original guidance. After drawing on our corporate revolver to fund the Arthur Gold royalty acquisition in Jul., the company is once again debt-free. We are encouraged by the recent constructive comments by the President of Panama toward resolution of the Cobre Panama mine closure. Looking forward, our deep portfolio of producing, development and exploration stage royalties on primary gold assets is well positioned to grow organically in this strong gold price environment,” Brink said.
Quarterly highlights include:
— $487.7mn in revenue (a new record), +77%
— 138,772 GEOs1 sold (including 11,208 GEOs from Cobre Panama), +26%
— 125,115 net GEOs sold, +29%
— $348mn in operating cash flow, +63%
— $427.3mn in adjusted EBITDA or $2.22/share (new records), +81%
— $287.5mn in net income or $1.49/share (new records), +89%
— $275mn in adjusted net income or $1.43/share (new records), +79%
— $84.4mn in proceeds and $67.4mn in realized gains from sale of equity investments
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By Chad Archey reporting from Atlanta. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
