Fresnillo plc Earnings Recaps
Q2 2026
Aug 6, 2026
Shares rose 10% following results that benefitted from sharply higher precious metal prices and margin expansion, driving revenues and EBITDA well above expectations.
Key takeaways
- Revenues increased notably, supported by elevated precious metal prices, with gross profit and EBITDA more than doubling year-over-year.
- Gross margins improved significantly, contributing to a strong profitability profile despite some cost pressures.
- Interim dividends were more than doubled compared to the prior year, reflecting confident cash flow generation and balance sheet strength.
- Operational performance was largely in line with expectations, highlighted by a 47.6% increase in gold production at Fresnillo and 15% higher gold output at Ciénega.
- Near-term challenges such as the Jarillas shaft connection at Saucito and maintenance at Herradura are expected to be temporary, with no changes to 2026 guidance.