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Pan American Silver (PAAS)
NYSE:PAAS
Earnings Data
Report Date
May 13, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.02Last Year’s EPS
0.43Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasizes multiple strong positives: record revenue/earnings, record free cash flow, a large cash build, production outperformance (notably from Juanicipio), and clear catalysts for 2026 (La Colorada PEA, Jacobina optimization, expanded exploration). Offsetting items include an ongoing suspension at Escobal with no restart timeline, higher 2026 AISC guidance driven by price-linked royalties and profit sharing, and some asset-level production declines (Dolores, El Peñón). On balance, the company appears well positioned financially to fund growth and return capital while executing project work and exploration; the positive items materially outweigh the operational and permitting uncertainties.Company Guidance
Record Financial Results
Record net earnings of $452 million in Q4 2025 ($1.07 per basic share) and $980 million for full-year 2025 ($2.56 per basic share). Adjusted earnings of $470 million in Q4 and $959 million for the full year.
Record Free Cash Flow and Strong Cash Position
Record attributable free cash flow of $553 million in Q4 and $1.2 billion for the full year 2025. Cash and short-term investments increased by $408 million from Q3 to $1.3 billion year-end (≈45.7% increase from Q3); $1.4 billion including 44% of Juanicipio cash.
Production Beat and 2026 Production Upside
Attributable silver production of 22.8 million ounces in 2025 exceeded the top end of guidance; attributable gold production of 742,200 ounces was within guidance. Management expects silver production to increase by about 14% in 2026 (guidance 25–27 Moz) driven by the full-year contribution from Juanicipio and higher grades at Cerro Moro.
Low Cost Performance and Juanicipio Contribution
Silver segment AISC (ex-NRV) of $9.51/oz in Q4 and $13.88/oz for 2025 (below decreased guidance). CEO highlighted Juanicipio (44% interest acquired Sept 2025) as a low-cost, better-than-expected contributor; Q4 net income included $61 million from the Juanicipio investment and Pan American received ~ $44 million in dividends.
Capital Allocation and Shareholder Returns
Declared dividend of $0.18 per common share (third consecutive increase). Company emphasizes returning capital to shareholders while funding exploration and project capital.
Project Advancement and Exploration
Invested $94 million in major projects in 2025 (in line with guidance). Planned increased project capital for La Colorada Skarn, Jacobina and Timmins in 2026 and expanded exploration program; updated La Colorada Skarn PEA targeted for Q2 2026 as a catalyst.
Balanced Cost Discipline Despite Price Environment
Gold segment AISC (ex-NRV) of $1,699/oz in Q4 and $1,621/oz for 2025 (within guidance). Management highlights margin expansion driven by higher metal prices while remaining unhedged on gold and silver.
PAAS Earnings History
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
PAAS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $58.01 | $61.21 | +5.52% |
Nov 12, 2025 | $38.22 | $38.90 | +1.77% |
Aug 06, 2025 | $29.13 | $31.20 | +7.12% |
May 07, 2025 | $24.28 | $25.25 | +3.99% |
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 Pan American Silver (PAAS) report earnings?
Pan American Silver (PAAS) is schdueled to report earning on May 13, 2026, After Close (Confirmed).
What is Pan American Silver (PAAS) earnings time?
Pan American Silver (PAAS) earnings time is at May 13, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PAAS EPS forecast?
PAAS EPS forecast for the fiscal quarter 2026 (Q1) is 1.02.