| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 411.43 | 57.4% |
| Total Income | 411.43 | 57.4% |
| Expenditure | 188.33 | 9.9% |
| PBT | 215.55 | 378.8% |
| Net Profit | -19.03 | 165.9% |
| OPM | 54.23% | 34.19pp |
| NPM | -4.63% | 15.67pp |
| EPS | -0.03 | 160.0% |
Hecla Mining Reports Q1 2026 Results: Cash Flow from Operations $183M
06 May 2026 · 6 May, 2:42 am
Summary
Hecla Mining Company announced its first quarter 2026 financial and operating results, highlighted by revenue exceeding $411 million and net income of $165 million. The company achieved record adjusted EBITDA of $265 million and free cash flow of $144 million. A significant strategic shift was marked by transitioning to a net cash position, further strengthened by redeeming senior notes after the quarter ended. The company's focus on silver and organic growth initiatives are expected to deliver long-term value.
Key Highlights
- 1
Hecla Mining Company reported revenue over $411 million from continuing operations in Q1 2026, a 13% increase over the prior quarter and a 100% increase versus Q1 2025.
- 2
Net income from continuing operations was $165 million, or $0.25 per share, up from $24 million, or $0.04 per share, in the first quarter of 2025.
- 3
Adjusted EBITDA from continuing operations reached a record $265 million, a 31% increase over the prior quarter and nearly three and a half times the $77 million recorded in Q1 2025.
- 4
The company generated $183 million in cash from operations and a record quarterly free cash flow of $144 million from continuing operations.
- 5
Hecla transitioned to net cash with a cash balance of $588 million and total debt of $266 million at the end of the quarter.
- 6
Silver production totaled 3.9 million ounces, a 3% increase compared to the prior quarter.
- 7
Subsequent to quarter end, the company redeemed its remaining $263 million of 7.25% Senior Notes, leaving no long-term debt.
Management Comments
Rob Krcmarov
“The first quarter demonstrates the strength of the platform we have built. The closing of the Casa Berardi sale sharpened our focus on silver and enabled us to redeem our Senior Notes in April, leaving Hecla debt-free with a $225 million undrawn revolver and the strongest balance sheet in the Company’s recent history. What further excites me is the quality of the organic growth initiatives advancing across our portfolio — from the Greens Creek pyrite concentrate circuit and potential Midas restart to our near-doubling of exploration investment in 2026. These opportunities, backed by a debt-free balance sheet and world-class operations, position Hecla to deliver compelling long-term value with best-in-class silver exposure.”
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