First Majestic Silver Corp. Q3 2026 Earnings Recap

First Majestic shares fell 1.5% after earnings, a roughly flat reaction. The quarter showed higher revenue and EBITDA, while management cited declining metal prices and inflation as pressures on cash flow and costs; the transcript excerpt provides no new company-wide outlook to assess.

Key Takeaways

• Q3 revenue was $394 million, up 38% year over year; EBITDA was $228 million, up 78%.
• Silver production was 3.4 million ounces and gold production was 30,000 ounces. The average silver selling price was $61.20 for the quarter.
• Management said cash flow was driven by metal prices and noted that silver and gold prices had declined during the year; it also cited inflation as a cost pressure.
• Santa Elena’s plant expansion to 3,000 tonnes per day was progressing, with that level exceeded on several occasions during the quarter.
• A labor disruption at San Dimas began in mid-September; management said it lasted 12 days.