Fortuna Mining Corp (FSM) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 13, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.42

Last Year’s EPS

0.2

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 4 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 18, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed a clearly positive operational and financial trajectory: multiple record metrics (adjusted EPS, free cash flow), strong liquidity and a net cash position, visible growth plans to reach >0.5 million oz driven by a 73% resource increase at Diamba Sud and ongoing expansion studies at Seguela. Cost discipline and high realized gold prices materially boosted profitability. Key challenges were concentrated: Lindero's Q4 mechanical downtime that lowered full-year production, higher corporate G&A driven by stock-based compensation, FX losses in certain jurisdictions, and schedule/risk exposure related to equipment lead times and project permitting. Overall, the favorable cash generation, balance sheet strength and controllable project execution steps outweigh the operational setbacks highlighted.

Company Guidance

Management guided to grow Fortuna to more than 0.5 million ounces of annual gold production over the next 24 months (≈65% growth from current levels), supported by a strong balance sheet with ~$704 million liquidity and ~ $380 million net cash; they reported record adjusted net income of $0.23/share, net cash from operations before WC of $0.48/share, and record free cash flow of $132 million in Q4 and $330 million for FY2025 (EBITDA conversion 84% Q4, 60% FY). Key project guidance: Diamba Sud is advancing to a mid‑year construction decision with a 2026 budget of $100 million (including $67 million for early works), an updated indicated resource up 73% to 1.25 million oz, a resource price deck of $3,300/oz (company uses $2,600/oz for 2026 resources and $2,300/oz for reserves), and a feasibility planned for May/June; Seguela is studying a plant expansion targeting 2.0–2.5 Mtpa (management target ~2.2–2.3 Mtpa) to reach ~200,000 oz/yr with preliminary capex roughly $50–100 million and an expected 12–18 month execution horizon post‑decision. Site-level operating and cost guidance highlights include Seguela Q4 production 36,942 oz (152,420 oz FY, +4% vs guidance), Seguela cash cost $710/oz Q4 ($679/oz FY) and AISC $1,576/oz Q4 ($1,560/oz FY), Lindero FY production 87,489 oz (Q4 19,201 oz) with Q4 cash cost $1,117/oz and FY cash cost $1,132/oz (Q4 AISC $1,639/oz; FY AISC $1,716/oz), a 35‑day primary crusher foundation replacement at Lindero planned for late March 2026 (~$2.2M), continued drilling programs (e.g., ~6,500 m at Lindero to upgrade ~40,000 oz inferred, Sunbird reserve ~400,000 oz), FY capex $178.1M ($109M sustaining, $69M growth incl. $48M exploration and $14M Diamba Sud), quarterly G&A (ex‑SBC) expected $14–16M, and an anticipated effective tax rate of ~30–33% in 2026; production cadence is expected generally steady through 2026 with Lindero modestly softer in H1 and AISC higher early in the year before normalizing in H2.

Record Adjusted Net Income and EPS

Adjusted net income of $71.3 million or $0.23 per share for Q4 2025 (record), up from $0.06 per share in Q4 2024 and $0.17 in Q3 2025, reflecting substantially higher realized gold prices.

Strong Cash Generation and Free Cash Flow

Net cash from operations before working capital adjustments of $0.48 per share (vs. consensus $0.43). Record free cash flow of $132 million for the quarter and $330 million for the full year 2025; EBITDA conversion of 84% in Q4 and 60% for the full year.

Robust Balance Sheet and Liquidity

Total liquidity of $704 million at year-end 2025 and net cash position of approximately $380 million; liquidity increased by $327 million versus 2024 (approximately +87%), supported by operations and the sale of Yaramoko.

Significant Resource Growth at Diamba Sud

Updated indicated resources increased by 73% to 1.25 million ounces of gold at Diamba Sud; $100 million 2026 budget approved for the project with $67 million allocated to early works, breaking ground and exploitation permit filed.

Visible Growth Plan to 0.5 Million Ounces

Clear objective to grow to more than 0.5 million ounces of annual gold production within ~24 months (approximately 65% growth from current production), driven principally by Diamba Sud and Seguela and underpinned by contained ounces in inventory.

Seguela Outperformance and Expansion Potential

Seguela produced 36,942 oz in Q4 and 152,420 oz for full year 2025, exceeding the upper end of guidance by 4%. Plant upgrade study underway to evaluate throughput expansion targeting ~200,000 oz/year (study to be completed early 2026).

Sunbird Underground Reserve and Exploration Momentum

Sunbird underground declared reserves just over 400,000 ounces (based on drilling through June 2025). Continued aggressive drilling and allocation of rigs supporting resource growth and potential future production from underground (box-cut/works budgeted).

Cost Discipline and Attractive Realized Prices

Realized average gold price of $4,166/oz in 2025 (increase of over ~$1,500/oz YoY). Consolidated cash costs rose marginally by 5% to $971/oz. Seguela cash cost $710/oz Q4 and $679/oz for the year; consolidated interest costs declined and interest income rose to $14.5M (2025).

Fortuna Mining Corp (FSM) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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FSM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 13, 2026	2026 (Q1)	0.42 / -	0.2	―	―	―
Feb 18, 2026	2025 (Q4)	0.23 / 0.22	0.03	633.33% (+0.19)
Nov 05, 2025	2025 (Q3)	0.18 / 0.17	0.16	6.25% (+0.01)
Aug 06, 2025	2025 (Q2)	0.18 / 0.14	0.13	7.69% (+0.01)
May 07, 2025	2025 (Q1)	0.22 / 0.20	0.09	122.22% (+0.11)
Mar 06, 2025	2024 (Q4)	0.16 / 0.03	0.068	-55.88% (-0.04)
Nov 07, 2024	2024 (Q3)	0.12 / 0.16	0.1	60.00% (+0.06)
Aug 08, 2024	2024 (Q2)	0.14 / 0.13	0.01	1200.00% (+0.12)
May 08, 2024	2024 (Q1)	0.05 / 0.09	0.05	80.00% (+0.04)
Mar 07, 2024	2023 (Q4)	0.09 / 0.07	0.023	195.65% (+0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

FSM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 18, 2026	$10.35	$10.44	+0.87%
Nov 05, 2025	$7.88	$7.98	+1.27%
Aug 06, 2025	$7.07	$6.22	-12.02%
May 07, 2025	$6.16	$5.36	-12.99%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Fortuna Mining Corp (FSM) report earnings?

Fortuna Mining Corp (FSM) is schdueled to report earning on May 13, 2026, After Close (Confirmed).

What is Fortuna Mining Corp (FSM) earnings time?

Fortuna Mining Corp (FSM) earnings time is at May 13, 2026, After Close (Confirmed).

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What is FSM EPS forecast?

FSM EPS forecast for the fiscal quarter 2026 (Q1) is 0.42.