The earnings call presented a positive outlook with significant progress in strategic projects like the Kansanshi S3 expansion and improved financial resilience through liquidity measures. However, production challenges and costs increases present ongoing operational concerns.

Company Guidance -

Q3 2025

During the Q2 2025 earnings call, First Quantum Minerals provided guidance emphasizing several key metrics and developments. The company reported a 9% decrease in copper production quarter-over-quarter, totaling 91,000 tonnes, primarily due to lower production at Kansanshi. Despite this, they maintained their 2025 copper production guidance of 160,000 to 190,000 tonnes and gold production guidance of 100,000 to 110,000 ounces. The Kansanshi S3 expansion project remains on budget and schedule, with first ore fed into the SAG mill, and construction is 91% complete. The company's copper C1 cash costs rose by $0.05 to $2 per pound due to lower production, though gold by-product credits partially offset costs. Additionally, the company improved its net debt by $334 million to $5.5 billion and maintained strong liquidity of $1.7 billion. Initiatives to enhance financial resilience included a new $500 million copper prepayment and a gold hedging program covering 78,000 ounces through June 2026. The company also reported progress on environmental audits at Cobre Panama and a 10-year solar power agreement in Zambia, while navigating ongoing challenges such as power restrictions at Lake Kariba and discussions with the government of Panama.

Progress in Panama

The government of Panama approved the preservation and safe management program for the Cobre Panama mine, allowing for the export of copper concentrates and the restart of the power plant, marking a significant step in environmental stewardship.

Kansanshi S3 Expansion on Track

The S3 expansion project at Kansanshi remains on budget and on schedule, with first ore fed into the comminution circuit, and expected stronger production in the second half of the year.

New Exploration Opportunity

A new near-surface gold zone has been identified at Kansanshi, showing promising initial test results and potential to enhance resource estimates.

Improved Liquidity and Financial Measures

The company strengthened its liquidity position with a new $500 million copper prepayment and initiated gold hedging, covering approximately 60% of planned copper production through 2025.

Stable Revenue and EBITDA Growth

Revenue grew by 3% quarter-over-quarter, driven by higher gold sales volumes and improved metal prices, resulting in a 6% increase in EBITDA.

First Quantum Minerals (TSE:FM) 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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TSE:FM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q3)	0.11 / -	0.193	―	―	―
Jul 23, 2025	2025 (Q2)	-0.05 / 0.03	-0.028	200.00% (+0.06)
Apr 23, 2025	2025 (Q1)	-0.07 / 0.00	-0.275	―
Feb 11, 2025	2024 (Q4)	0.05 / 0.06	-0.51	110.81% (+0.56)
Oct 22, 2024	2024 (Q3)	<0.01 / 0.19	0.716	-73.08% (-0.52)
Jul 23, 2024	2024 (Q2)	-0.03 / -0.03	0.165	-116.67% (-0.19)
Apr 23, 2024	2024 (Q1)	-0.17 / -0.28	0.152	-281.82% (-0.43)
Feb 20, 2024	2023 (Q4)	-0.20 / -0.51	0.303	-268.18% (-0.81)
Oct 24, 2023	2023 (Q3)	0.38 / 0.72	0.193	271.43% (+0.52)
Jul 25, 2023	2023 (Q2)	0.25 / 0.17	0.675	-75.51% (-0.51)

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:FM Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 23, 2025	C$24.34	C$23.94	-1.64%
Apr 23, 2025	C$18.23	C$19.09	+4.72%
Feb 11, 2025	C$18.83	C$18.91	+0.42%
Oct 22, 2024	C$18.37	C$18.61	+1.31%

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 Quantum Minerals (OTC) (TSE:FM) report earnings?

First Quantum Minerals (OTC) (TSE:FM) is schdueled to report earning on Oct 28, 2025, After Close (Confirmed).

What is First Quantum Minerals (OTC) (TSE:FM) earnings time?

First Quantum Minerals (OTC) (TSE:FM) earnings time is at Oct 28, 2025, 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 TSE:FM EPS forecast?

TSE:FM EPS forecast for the fiscal quarter 2025 (Q3) is 0.11.

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