First Majestic Silver (TSE:AG)
NYSE:AG
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Earnings Data
Report Date
Jul 30, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.34Last Year’s EPS
0.06Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strongly positive operational and financial picture: record revenue, materially higher realized silver prices, production ahead of guidance, large operating and free cash flows, improved margins and aggressive exploration/resource growth. Challenges cited were manageable in scope — higher per-ounce costs from strategic lower cutoff grades, increased profit-sharing/royalties, a sizable tax payment, and the capital and timing requirements to restart Jerritt Canyon (including long lead times on equipment). Overall the positives (revenue, margins, cash, resource growth, liquidity and expansions) materially outweigh the listed lowlights.Company Guidance
Record Revenue and Strong Metal Prices
Q1 revenue of $477 million, up 95% year-over-year; average realized silver price $86.35 vs $33.10 in Q1 2025 (≈+161% YoY).
Production Ahead of Guidance
Silver production of 3.5 million ounces (26% of 2026 midpoint guidance) and gold production at 28% of midpoint guidance — both above midpoint guidance for the quarter.
Robust Cash Generation and Liquidity
Operating cash flow of $311 million ($63/share) and corporate free cash flow of $224 million in Q1; treasury balance over $1.1 billion.
Expanded Margins and Improved Metallurgy
Gross margins per ounce improved ~4x from $13/oz in Q1 2025 to $52/oz in Q1 2026; silver purity improved to 66% from 60% in 2025.
Shareholder Returns and Capital Allocation
Largest-ever dividend announced at 1.71 (cents) for record holders — ~4x last year following policy increase from 1% to 2% effective Jan 1, 2026.
Operational Upsides and Cost Control
Cost-per-ton reported at $170 (lowest in recent periods); conversion of three mines to LNG reduced diesel exposure to ~5%; La Encantada generated ~$30 million profit in Q1.
Development & Expansion Momentum
Active expansions: Los Gatos ramp-up targeted to 4,000 t/d; Santa Elena mill expansion from 3,200 to 3,500 t/d targeted during 2026; La Encantada self-haul fleet (12 trucks) now operational improving throughput.
Aggressive Exploration and Resource Growth
Drilling program ~266k meters (plus ~42k meters at Jerritt Canyon) — >300k meters total planned; Santa Elena resources increased by ~90 million ounces (disclosed March update); Jerritt Canyon resource base ~7.8 million ounces of gold.
Progress on Jerritt Canyon Restart
Hiring of experienced site leadership and managing director (Alexander Thompson); $75 million allocated in 2026 for restart activities; prefeasibility work targeted early 2027 and production targeted H2 2027.
Inventory Strategy
Management held back 676k ounces of silver and 2.7k ounces of gold at quarter-end valued at $63 million to capture higher future prices.
TSE:AG 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
TSE:AG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 12, 2026 | C$32.26 | C$33.17 | +2.82% |
Feb 19, 2026 | C$30.94 | C$33.92 | +9.62% |
Nov 05, 2025 | C$16.25 | C$15.03 | -7.56% |
Aug 14, 2025 | C$12.27 | C$12.21 | -0.49% |
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 First Majestic Silver (TSE:AG) report earnings?
First Majestic Silver (TSE:AG) is schdueled to report earning on Jul 30, 2026, TBA (Confirmed).
What is First Majestic Silver (TSE:AG) earnings time?
First Majestic Silver (TSE:AG) earnings time is at Jul 30, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:AG EPS forecast?
TSE:AG EPS forecast for the fiscal quarter 2026 (Q2) is 0.34.