Quarterly ResultMay 12, 2026, 07:12 AM
First Majestic Q1 Net Earnings $147.5M (+2,264%); Revenue $476.7M (+95%)
AI Summary
First Majestic Silver Corp. reported a significant increase in financial performance for Q1 2026, with net earnings soaring to $147.5 million, a 2,264% rise year-over-year, and revenue growing 95% to $476.7 million. This strong growth was primarily driven by substantially higher average realized silver and gold prices. The company also announced the commencement of a restart plan for its Jerritt Canyon Gold Mine in Nevada.
Key Highlights
- Net earnings for Q1 2026 surged to $147.5 million, a 2,264% increase from $6.2 million in Q1 2025.
- Revenue for Q1 2026 reached $476.7 million, up 95% from $243.9 million in Q1 2025.
- Basic & Diluted EPS was $0.26 in Q1 2026, compared to $0.01 in Q1 2025.
- Mine operating earnings increased 318% to $266.6 million in Q1 2026.
- Cash and cash equivalents stood at $984.8 million as of March 31, 2026, up 24% QoQ.
- Average realized silver price was $86.35 per ounce, up 161% YoY.
- Average realized gold price was $5,018 per ounce, up 81% YoY.
- Jerritt Canyon Gold Mine restart plan commenced on April 2, 2026.