Franco-Nevada Corp. (FNV) on Tuesday reported first-quarter net income of $468.6 million.
The Toronto-based company said it had net income of $2.43 per share. Earnings, adjusted for non-recurring gains, were $2.38 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.09 per share.
The precious metals streaming and royalty company posted revenue of $650.7 million in the period.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.
Record first quarter Revenue of $867 million, an increase of $198 million or 30% compared to the prior period.
Record Adjusted EBITDA of $166 million, representing growth of $36 million or 28% over the prior period.
Free Cash Flow first quarter record of $120 million representing growth of 48% compared to the prior period of $81 million.
Net Earnings of $28 million compared to the prior period of $7 million, an increase of 287%, and Net Earnings per share of $0.50 compared to the prior period of $0.14 or an increase of 257%.
Record Adjusted Net Earnings of $34 million compared to the prior period of $14 million, an increase of 139%, and Adjusted Net Earnings per share of $0.61 compared to the prior period of $0.28.
Record Free Cash flow less Maintenance Capital Expenditures of $41 million compared to $26 million in the prior period.
Trailing Twelve Month Free Cash Flow less Maintenance Capital Expenditures Payout Ratio 1 improved to 57% compared to the prior period of 63% and Trailing Twelve Month Adjusted Net Earnings Payout Ratio 1 improved to an all-time record of 67% compared to the prior period of 84%. The payout ratios significant declines included period over period increases in weighted average number of shares outstanding of 11% along with the 5% increase in dividend during the fourth quarter of fiscal 2025.
Announced the extension and expansion of the Credit Facility to $3.5 billion while increasing the flexibility as the facility changed from a secured to unsecured facility.
Announced an investment grade corporate rating and the issuance of $600 million of 4.324% senior unsecured notes due March 13, 2031 with the proceeds used to repay existing indebtedness under the Credit Facility.
Announced the acquisition of Mach2 and the extension and expansion of the commercial agreement with Air Canada.
Announced the renewal of the Normal Course Issuer Bid for Common Shares.
Generated first quarter cash from operating activities of $1.1 billion, Non-GAAP Cash Flow of $1.2 billion and Non-GAAP Free Cash Flow of $634 million after capital expenditures of $605 million
Produced average first quarter volumes of 679 thousand barrels of oil equivalent per day (“MBOE/d”), at the high end of company guidance across all products including 225 thousand barrels per day (“Mbbls/d”) of oil and condensate, 100 Mbbls/d of other NGLs (C2 to C4) and 2,124 million cubic feet per day (“MMcf/d”) of natural gas
Closed the acquisition of NuVista Energy Ltd., adding approximately 100 MBOE/d of production, 930 net 10,000-foot equivalent well locations, and approximately 140,000 net acres of land for approximately $2.8 billion
Closed the sale of the Company’s Anadarko assets in April for total cash proceeds of approximately $2.85 billion after preliminary closing adjustments
Redeemed the Company’s $700 million, 5.65% senior notes due May 15, 2028, on April 20, 2026, using proceeds from the Anadarko divestiture; annualized interest savings to total approximately $40 million
Net Debt of less than $3.3 billion as of April 30, 2026; approximately 40% lower than one year prior
Resumed share buybacks in March with the repurchase of approximately 1.5 million shares for total consideration of approximately $84 million; year-to-date share buybacks as of April 30, 2026, totaled 3.2 million shares for total consideration of $180 million
Released the 2025 Sustainability Report on the Company’s website
Oil prices rose 2 per cent on Tuesday as hopes for a deal to end the U.S.-Israeli war on Iran faded, with stark differences between Tehran and Washington on a peace proposal bringing supply concerns again to the fore.
Brent crude futures were up US$2, or 1.9 per cent, at US$106.21 per barrel, while U.S. West Texas Intermediate gained US$2.31, or 2.4 per cent, to US$100.38 by 3:36 a.m. ET. Both benchmarks climbed nearly 2.8 per cent on Monday.
U.S. President Donald Trump said on Monday the ceasefire with Iran was “on life support,” pointing to disagreements over several demands, such as the cessation of hostilities on all fronts, the removal of a U.S. naval blockade, the resumption of Iranian oil sales and compensation for war damage.
Tehran also emphasized its sovereignty over the Strait of Hormuz, through which about a fifth of global oil and liquefied natural gas flows.
“Optimism regarding an imminent (peace) deal seems to be fading again and if we don’t see a deal by the end of May, then upside risks for oil prices are definitely on the table,” said DBS Bank energy sector team lead Suvro Sarkar.
Disruptions linked to the near-closure of the strait have prompted producers to curtail exports, with a Reuters survey on Monday showing OPEC oil output in April fell to its lowest level in more than two decades.
“A genuine breakthrough toward a peace deal could trigger a sharp US$8-US$12 correction, while any escalation or renewed blockade threats would quickly push Brent back toward US$115+,” said Tim Waterer, chief market analyst at KCM Trade.
Saudi Aramco CEO Amin Nasser warned on Monday that disruptions to oil exports through the strait could delay a return to market stability until 2027, with the loss of about 100 million barrels of oil per week.
Elsewhere on the supply front, U.S. crude stocks were forecast by analysts in a Reuters poll to be down by around 1.7 million barrels in the previous week.
The draw comes against “a backdrop of continued strong net waterborne export flows for crude and products, across the next several weeks,” said Walt Chancellor, an energy strategist at Macquarie Group.
Meanwhile, market participants were also keeping a close eye on President Trump’s planned meeting with Chinese President Xi Jinping on Thursday and Friday, after Washington imposed sanctions on three individuals and nine companies for facilitating Iranian oil shipments to China.
Tariffs imposed during the U.S.-China trade war have halted most Chinese imports of U.S. oil and LNG, which were worth US$8.4 billion in 2024, the year before Trump began his second term.
Canada’s main stock index opened lower on Tuesday, tracking losses on Wall Street due to a hotter-than-expected U.S. inflation reading and fading hopes of a U.S.-Iran peace deal.
At 9:30 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index was down 0.07 per cent at 34,113.67 points.
In New York, the Dow Jones Industrial Average rose 35.2 points, or 0.07 per cent, to 49,739.62. The S&P 500 fell 22.2 points, or 0.30 per cent, to 7,390.63, while the Nasdaq Composite dropped 187.1 points, or 0.71 per cent, to 26,087.009 at the opening bell.
U.S. consumer prices rose at a brisk pace for a second straight month in April, pushing annual inflation to its highest level in nearly three years and reinforcing expectations that the Federal Reserve will keep interest rates unchanged for longer.
The Consumer Price Index increased 3.8 per cent last month on an annual basis, while economists polled by Reuters had expected a 3.7-per-cent rise.
“We believe the financial markets have been a little slow to appreciate the economic damage that is building with higher prices, oil prices, raw materials, all those things that could accelerate global inflation,” said Doug Beath, global equity strategist, Wells Fargo Investment Institute.
“April had the highest S&P 500 returns since 2020. Obviously, earnings continue to exceed expectations. But I do think even though it (CPI)is a little bit higher than expected, it could be more important because of the fact the negotiations are still in limbo.”
President Donald Trump said a ceasefire with Iran was “on life support” after Tehran rejected a U.S. proposal to end the conflict, keeping oil prices elevated as the key Strait of Hormuz shipping route remained closed.
Although a strong earnings season has helped bolster market sentiment, the lack of progress in negotiations between Washington and Tehran remains a concern for market watchers as surging oil prices fuel worries of higher inflation.
Ahead of the war, traders had expected two rate cuts, per CME Group’s FedWatch Tool, but currently expect the Federal Reserve to keep interest rates steady through the end of the year.
Producer prices and retail sales data are also due this week, with investors turning to macroeconomic cues as the first-quarter earnings season draws to a close.
All three major U.S. stock indexes advanced on Monday, with the S&P 500 and the Nasdaq notching fresh record closing highs, supported by continued optimism around artificial intelligence and the health of Corporate America.
Elsewhere, in Europe at midday, France’s CAC 40 slipped 0.6 per cent, while the German DAX dipped 1.1 per cent. Britain’s FTSE 100 shed 0.5 per cent.
In Asia, Japan’s benchmark Nikkei 225 added 0.5 per cent to finish at 62,742.57. South Korea’s Kospi dropped 2.3 per cent to 7,643.15, in what analysts are categorizing as fallout from overreliance on fraying AI hopes.
“Global equities remain dangerously dependent on a tiny cluster of AI leaders, creating a rally structure that looks powerful on the surface but increasingly fragile underneath,” said Stephen Innes, analyst with SPI Asset Management.
He believes South Korea may be among the first major economies that will undergo what he called “the political redistribution phase of the AI boom.”
Australia’s S&P/ASX 200 dipped 0.4 per cent to 8,670.70. Hong Kong’s Hang Seng lost earlier gains and fell 0.2 per cent to 26,347.91, while the Shanghai Composite lost nearly 0.3 per cent to 4,214.49.
CALGARY, Alberta (AP) — Pembina Pipeline Corp. (PBA) on Thursday reported first-quarter profit of $363 million.
On a per-share basis, the Calgary, Alberta-based company said it had profit of 58 cents. Earnings, adjusted for non-recurring costs, came to 59 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The oil and gas transportation and services company posted revenue of $1.54 billion in the period.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PBA at https://www.zacks.com/ap/PBA
CALGARY – Enbridge Inc. reported a first-quarter profit attributable to common shareholders of $1.67 billion, down from $2.26 billion a year earlier.
The pipeline company says the profit amounted to 77 cents per share for the quarter ended March 31, down from $1.04 per share in the same quarter last year.
The company said the drop was primarily due to non-cash, unrealized changes in derivatives used to manage foreign exchange, interest rate and commodity price risks.
On an adjusted basis, Enbridge says it earned 98 cents per share in its latest quarter, down from an adjusted profit of $1.03 per share in the first quarter of 2025.
The company says its secured capital backlog stood at $40 billion as it sanctioned several projects including the Cone project, an onshore wind facility in Texas that will support a data centre for Meta Platforms Inc.
Enbridge is also going ahead with growth at its Tres Palacios natural gas storage facility and an expansion of its 60 per cent owned Vector Pipeline.
This report by The Canadian Press was first published May 8, 2026.
Barrick Mining ABX-T +8.21%increase beat estimates for first-quarter profit on Monday, helped by record gold prices, while the miner also approved a US$3-billion share repurchase program ahead of the planned IPO of its North American Barrick assets.
Gold prices hit record highs during the quarter, averaging US$4,673.5 an ounce, up roughly 63 per cent from a year earlier, as investors sought safe-haven assets amid geopolitical tensions and growing expectations for interest rate cuts.
Rival Newmont NEM-N +3.93%increase also topped estimates for first-quarter profit last month.
While prices have eased slightly in recent weeks following an oil-driven inflation scare linked to the U.S.–Israel conflict with Iran, bullion remains well above year-ago levels.
Barrick’s quarterly average realized price for gold was at US$4,823 per ounce, 66-per-cent higher than a year earlier.
The company’s all-in sustaining costs, an indicator of cost of production, fell 4 per cent in the three months ended March 31 to US$1,708 per ounce.
The Canadian miner posted first-quarter net earnings of US$1.6-billion, more than triple of year-ago levels.
Barrick’s gold production fell 5 per cent during the period to 719,000 ounces.
But the company said it expects to ramp up output at its Loulo-Gounkoto mine in Mali and Goldrush mine in Nevada, U.S. and improved mine sequencing across its Nevada Gold Mines operations in the next quarter. It also sees increased production at its Kibali site in the Democratic Republic of Congo later in the year.
Barrick forecast gold output to rise to between 730,000 and 770,000 ounces in the second quarter and increase further in the second half of 2026.
The miner continued to advance plans for the IPO of North American Barrick, a new entity that will hold some of the company’s flagship assets like Nevada Gold Mines, Pueblo Viejo and the Fourmile project.
Barrick reported an adjusted first-quarter profit of 98 cents per share, beating average analysts’ expectation of 78 cents per share, according to data compiled by LSEG.
