)
Edge14 Nov 2025
Ball: The King of Cans
From a 19th-century glass-jar legacy to a global plant network, Ball is now a pure-play aluminum can partner to the world's biggest beverage brands.
First Majestic Silver (AG) investor relations material
First Majestic Silver Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Achieved record Q3 2025 results with revenue of $285.1 million, a 95% year-over-year increase, driven by higher production, metal prices, and the integration of Los Gatos.
Silver production reached a record 3.9 million ounces in Q3, totaling 11.3 million ounces year-to-date, with silver equivalent production at 7.7 million ounces for the quarter.
Record cash flow from operations of $141.3 million and a record cash position of $569 million at quarter-end, with total liquidity of $682 million.
Net earnings reached $43 million (EPS $0.06), reversing a net loss in Q3 2024; adjusted net earnings were $32.4 million (adjusted EPS $0.07).
Management emphasized operational excellence, cost reduction, and continued growth, while downplaying ongoing tax disputes.
Financial highlights
Q3 revenue increased by $73 million from higher production and $66 million from higher metal prices, with 56–60% of revenue from silver sales.
EBITDA reached a record $128.6 million, with adjusted EBITDA at $138.6 million.
Free cash flow surged to $98.8 million in Q3 2025, reflecting operational improvements and higher silver prices.
Cash and marketable securities exceeded $700 million combined, with working capital at $542.4 million.
All-in sustaining costs (AISC) decreased 1% year-over-year to $20.90 per AgEq ounce; consolidated cash costs decreased 2% to $14.83 per AgEq ounce.
Outlook and guidance
On track to achieve upwardly revised 2025 guidance: 14.8–15.8 million oz silver, 135–144K oz gold, and 30.6–32.6 million AgEq oz.
AISC guidance for 2025 is $20.02–$20.82 per AgEq oz.
Guidance for 2026 includes increased throughput at Los Gatos and Santa Elena, with updates expected in January.
Resource estimate updates for Navidad project expected in March next year.
Growth capital is being reinvested in exploration and development to extend mine life and increase throughput.
What are the next steps for the 2012 tax reassessment?
Reason for $50.3M Q3 inventory build-up?
How did gold-to-silver ratio impact AgEq ounces?
What are the key drivers for Q3 cost reductions?
Los Gatos/Santa Elena throughput increase plans
How are marketable securities impacting liquidity?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next First Majestic Silver earnings date
Q4 202520 Feb, 2026
Next First Majestic Silver earnings date
Q4 202520 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. The company holds 100% interests in 6 producing mines; 5 of the mines are located in Mexico, and 1 mine is located in Canada. It also has 100% interests in 5 development stage projects, 2 advance exploration projects, 4 exploration properties, as well as various non-core assets. The company has 10 joint ventures on properties located in Mexico and Canada. First Majestic Silver Corp. was founded in 1979 and is headquartered in Vancouver, Canada.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage