Triple Flag Precious Metals (TFPM) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 results with 30,166 GEOs sold, $147.0 million revenue, $116.9 million net earnings, $129 million adjusted EBITDA, and $0.55 operating cash flow per share, reflecting significant year-over-year growth across all key metrics.

• Portfolio assets outperformed expectations, with major growth projects and expansions at Northparkes, Hope Bay, Beta Hunt, Koné, Fosterville, and Arthur, and strategic acquisitions such as a 3% GR royalty on Gunnison copper for $23 million.

• Entered an $84.3 million agreement to fund Northparkes E44 gold deposit development, securing guaranteed gold and silver deliveries.

• Declared a quarterly dividend of $0.0575 per share and repurchased 26,459 shares for $1 million under the NCIB.

Financial highlights

• Revenue reached $147.0 million, up 79% year-over-year; net earnings rose to $116.9 million; adjusted EBITDA was $128.6 million; operating cash flow was $113.3 million.

• Adjusted earnings per share increased to $0.45; gross profit margin improved to 72%; asset margin remained at 93%.

• Ended the quarter with $144 million in cash, no debt, and over $1.1 billion in available liquidity.

• Paid $11.9 million in dividends and executed $1 million in share buybacks.

Outlook and guidance

• Maintained 2026 GEOs sales guidance of 95,000–105,000 ounces and 2030 outlook of 140,000–150,000 GEOs.

• Significant additional GEOs growth expected beyond 2030 from long-life, district-scale assets and ongoing project expansions.

• Over $1.1 billion in available liquidity supports ongoing deal pipeline and disciplined shareholder returns.