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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Wheaton Precious Metals
Wheaton Precious Metals (WPM) investor relations material
Wheaton Precious Metals Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary6 Nov, 2026
Executive summary
Q3 revenue was $771.7M, net earnings $410.2M and operating cash flow $644.9M; 9M revenue, earnings and cash flow reached records of $2.60B, $1.54B and $2.06B.
Q3 attributable production was 230,965 GEOs, up 13.3% YoY; sales were 192,270 GEOs, up 18.8%, supported by higher realized prices and the Antamina stream expansion.
2026 production guidance remains 860,000–940,000 GEOs; long-term forecast is 1.2M GEOs by 2030 and an average of 1.2M annually in 2031–2035.
Financial highlights
Q3 revenue increased 62.0% YoY to $771.7M; gross margin rose 60% to $539M, driven by higher realized prices and sales volumes.
Net earnings were $410.2M, up 11.7% YoY; adjusted net earnings were $409.8M versus $281.1M.
Operating cash flow increased 68.4% YoY to $644.9M in Q3 and 77.8% to $2.06B in 9M.
Q3 realized price was $4,014/GEO sold versus $2,943 YoY; average cash cost was $548/GEO and cash operating margin was $3,466/GEO, up 39%.
Outlook and guidance
2026 guidance is 400,000–430,000 oz gold, 27–29M oz silver and 19,000–21,000 other-metal GEOs, totaling 860,000–940,000 GEOs.
Production is forecast to grow ~50% from 2025 levels to 1.2M GEOs by 2030, averaging 1.2M GEOs annually in 2031–2035.
Growth drivers include Antamina, Blackwater, Koné and Kurmuk; ~3% of 2026 production is forecast from assets in construction or ramp-up.
Koné is expected to contribute 50,000+ oz in 2027 and 60,000+ oz in 2028; Kurmuk is expected to produce under 10,000 oz in 2027 and ~50% more in 2028.
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Latest events from Wheaton Precious Metals
- Low-cost precious-metals streams underpin forecast growth to 1.2 million GEOs by 2030.WPM
Corporate presentation - Production is targeted to reach 1.2 million GEOs annually by 2030.WPMCorporate presentation
- Confident 50% growth by 2030, rising mega deals, and expanding dividends signal strong momentum.WPMMining Forum Americas 2026
- Disciplined growth, robust risk management, and ESG leadership drive 50% production increase by 2030.WPMInvestor Day 2026
- Delivers high-margin, diversified precious metals exposure with strong growth and ESG leadership.WPMCorporate presentation
- Delivers sector-leading precious metals exposure, robust growth, and top ESG performance.WPMCorporate presentation
- Low-risk, high-margin streaming model drives sector-leading growth and ESG performance.WPMCorporate presentation
- Record revenue, earnings, and cash flow highlight robust growth and strong production in Q2 2026.WPMQ2 2026
- Record revenue, earnings, and cash flow in 2024, with 40% production growth forecast by 2029.WPMQ4 2024
Next Wheaton Precious Metals earnings date
Q4 202611 Mar, 2027
Wheaton Precious Metals
Next Wheaton Precious Metals earnings date
Q4 202611 Mar, 2027
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Frequently asked questions
Wheaton Precious Metals Corp. engages in the acquisition and management of precious metal assets. Wheaton Precious Metals Corp. was founded in 2004 and is headquartered in Vancouver, Canada.