| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 409.54 | 34.7% | 67.1% |
| Total Income | 409.54 | 34.7% | 67.1% |
| Expenditure | 260.90 | 24.1% | 17.2% |
| PBT | 155.60 | 72.4% | 1077.9% |
| Net Profit | 100.73 | 74.5% | 5623.3% |
| OPM | 36.30% | 5.46pp | 27.13pp |
| NPM | 24.59% | 5.61pp | 23.88pp |
| EPS | 0.15 | 66.7% |
Hecla Mining Reports Record Q3 2025 Revenue of $409.5 Million
04 May 2026 · 4 May, 7:56 am
Summary
Hecla Mining Company announced record third quarter 2025 results, with revenue reaching $409.5 million and net income applicable to common stockholders at $100.6 million. Adjusted EBITDA was a record $195.7 million for the quarter. The company significantly deleveraged, reducing the net leverage ratio to 0.3x and fully repaying the revolving credit facility. All four producing assets contributed to positive free cash flow for the second consecutive quarter.
Key Highlights
- 1
Hecla Mining Company achieved record quarterly revenue of $409.5 million, a 35% increase over the prior quarter.
- 2
The company reported a record net income applicable to common stockholders of $100.6 million, or $0.15 per share, for the quarter.
- 3
Adjusted EBITDA reached a record $195.7 million during the quarter and $505.5 million over the last 12 months.
- 4
The net leverage ratio decreased to 0.3x from 0.7x in the prior quarter, with the revolving credit facility fully repaid.
- 5
Cash flow from operations was $148 million, resulting in $90.1 million in free cash flow.
- 6
Silver production totaled 4.6 million ounces, 2% higher than the prior quarter.
- 7
Greens Creek's silver production guidance for 2025 is tightened up to 8.4-8.8 million ounces.
Management Comments
Rob Krcmarov
"Our third quarter results represent a defining moment for Hecla, with record-breaking performance across a number of key financial metrics. We achieved quarterly revenues of $410 million, net income of $101 million, and Adjusted EBITDA of $196 million, all records in the Company's 134 year history. Perhaps our most significant accomplishment is our substantial balance sheet transformation - our net leverage ratio has decreased to just 0.3x, the revolving credit facility is fully repaid, we repaid the Investissement Quebec notes and our cash and cash equivalents position has grown to $134 million. During the quarter we achieved $90 million in free cash flow which is a genuine inflection point in our financial flexibility, strengthening our financial position. Operationally, all four producing assets contributed to positive free cash flow for the second consecutive quarter. Greens Creek continues to exceed expectations, Keno Hill has delivered three consecutive quarters of profitability under our ownership, Lucky Friday maintained consistent production while advancing the surface cooling project, and Casa Berardi’s cost trajectory is improving. This validates both the quality of our asset base and the skill of our operating teams. We continue to make significant progress on our strategic priorities including operational excellence, balance sheet strength, and value creation for shareholders, which has led to these results."
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