Triple Flag Precious Metals (TFPM) Q3 2026 earnings summary

Executive summary

• Q3 deliveries were 25,030 GEOs vs. 27,037 a year earlier; operating cash flow per share rose 15% YoY to $0.45.

• Revenue was $106.7 million and Adjusted EBITDA was $93.7 million; 2026 GEO sales are expected in the top half of guidance.

• The 2030 outlook remains 150,000–160,000 GEOs, with Northparkes, Koné and Marigold Complex developments supporting the growth pipeline.

Financial highlights

• Revenue was $106.7 million vs. $93.5 million in Q3 2025; net earnings were $64.2 million vs. $61.9 million.

• Adjusted net earnings were $53.1 million, or $0.26/share, vs. $49.3 million, or $0.24/share; reported EPS was $0.31 vs. $0.30.

• Adjusted EBITDA was $93.7 million vs. $77.2 million; operating cash flow per share was $0.45 vs. $0.39.

• GEO sales were 25,030 vs. 27,037; revenue comprised $70.4 million gold, $32.1 million silver and $4.2 million copper and other.

Outlook and guidance

• 2026 GEO guidance is 100,000–110,000; management expects sales in the top half, or 105,000–110,000 GEOs.

• The 2030 outlook remains 150,000–160,000 GEOs, representing ~50% growth; management cited potential upside.

• The 2031 outlook, due with 2027 guidance in February, is expected to exceed the 2030 outlook.

• Northparkes’ mill study evaluates 10–11 Mtpa capacity; the study is expected by Evolution’s FY2027 year-end.

• Koné royalty GEOs are expected to ramp through 2027; Prieska targets first production by end-2027, subject to development and funding.