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Wheaton Precious Metals (TSE:WPM)
TSX:WPM
Earnings Data
Report Date
May 07, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.94Last Year’s EPS
0.75Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall: management reported record quarterly and annual financial results, production that exceeded guidance, robust free cash flow, an industry‑leading growth outlook (50% growth to ~1.2M GEOs by 2030), and an 18% dividend increase. Major strategic expansion with the $4.3B Antamina stream materially strengthens silver exposure but temporarily increases leverage and cash commitments. A few operational headwinds (Constancia grade declines, mix/grade impacts and short-term PBND seasonality) and the near-term funding and integration of large transactions are noted, but management presents clear funding plans and confidence in rapid deleveraging and continued access to deals.Company Guidance
High Sales Volume and Leverage of Streaming Model
Q4 sales volumes >190,000 GEOs (+35% YoY). 80% of revenue from fixed per-ounce production payments in operating streams, demonstrating strong margin leverage in rising precious metals prices.
Pipeline of Funded Development Projects
Six additional assets expected online over next 5 years (permitted and funded), plus development projects (Mineral Park, Fenix, Marmato, Platreef, Koné, Kurmuk, El Domo, Spring Valley, Copper World, Santo Domingo) underpinning sector-leading organic growth profile.
Record Revenue, Earnings and Cash Flow
Q4 revenue of ~$865M (+127% YoY), gross margin of $664M (+168% YoY), net earnings of $558M (+533% YoY), adjusted net earnings of $555M (+179% YoY), and operating cash flow of $746M (+134% YoY). Full year 2025 revenue of ~$2.3B (+80% YoY) and full-year gross margin of ~$1.7B (+108% YoY).
Production Outperformance
Annual production of 690,000 gold equivalent ounces (GEOs), exceeding the top end of 2025 guidance and ~9% above the midpoint. Q4 production record of 205,000 GEOs (+8% YoY).
Strong Asset Contributions and Ramp-ups
Cornerstone assets Salobo, Antamina and Peñasquito materially supported results; Blackwater, Goose and newly added streams (Hemlo, Spring Valley) continued ramp-up and began contributing immediately.
Antamina Strategic Expansion (Largest Streaming Transaction)
Announced acquisition of additional Antamina silver stream for an upfront payment of $4.3B (post-quarter). Transaction doubles exposure to Antamina, expected to account for ~18% of total production by 2030 and strengthens position as one of the largest global silver producers.
Ambitious Medium- and Long-Term Growth Guidance
2026 attributable production guidance: 400k-430k oz gold, 27M-29M oz silver, 19k-21k oz other metals; total 2026 GEOs ~860k-940k. Company forecasts ~50% production growth to ~1.2M GEOs by 2030 and average ~1.2M GEOs annually (2031–2035).
Shareholder Returns and Dividend Increase
Declared quarterly dividend increased by 18% to $0.195 per share. Dividend payout represents just over 10% of operating cash flow; Wheaton has returned $2.6B in dividends since inception.
Strong Liquidity and Funding Plan
Cash and equivalents of ~$1.2B at Dec 31, 2025. Antamina funding expected via cash on hand (~$1.2B), ~$400M incremental free cash flow pre-close, $300M from monetization, $1.5B term loan and ~$900M draw on revolver. Expected net debt at closing of ~$2.4B and forecast to return to net cash in ~1 year.
TSE:WPM 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:WPM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 12, 2026 | C$198.85 | ― | ― |
Nov 06, 2025 | C$136.13 | C$135.77 | -0.26% |
Aug 07, 2025 | C$136.73 | C$138.09 | +1.00% |
May 08, 2025 | C$114.38 | C$118.93 | +3.97% |
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 Wheaton Precious Metals (TSE:WPM) report earnings?
Wheaton Precious Metals (TSE:WPM) is schdueled to report earning on May 07, 2026, After Close (Confirmed).
What is Wheaton Precious Metals (TSE:WPM) earnings time?
Wheaton Precious Metals (TSE:WPM) earnings time is at May 07, 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 TSE:WPM EPS forecast?
TSE:WPM EPS forecast for the fiscal quarter 2026 (Q1) is 1.94.
