Franco-Nevada (FNV) Beats On Q1 Earnings & Revenue Estimates
Zacks Investment Research | May 09, 2019 03:06AM ET
Franco-Nevada Corporation (TO:FNV) delivered adjusted earnings of $65.2 million or 35 cents per share in first-quarter 2019, up from the prior-year quarter’s $63.9 million or 34 cents per share. In addition, the EPS figure surpassed the Zacks Consensus Estimate of 28 cents.
The company generated revenues of $179.8 million in the reported quarter, reflecting year-over-year improvement of 3.8%. The revenue figure also beat the Zacks Consensus Estimate of $166 million. In the first quarter, 88.4% of revenues were sourced from gold and gold equivalents (63.4% gold, 11.1% silver, 10.6% platinum group metals and 3.3% other mining assets) and 11.6% from energy (oil, gas and natural gas liquids).
The company sold 122,049 Gold Equivalent Ounces (GEOs) in the quarter, up 5.5% from 115,671 GEOs in the prior-year quarter.
During the March-end quarter, adjusted EBITDA inched up 0.7% to $140.9 million from $139.9 million witnessed in the comparable period last year.
Franco-Nevada Corporation Price, Consensus and EPS Surprise
industry ’s decline of 7.8%.
Zacks Rank & Stocks to Consider
Franco-Nevada currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the Basic Materials space are Israel Chemicals Ltd. (NYSE:ICL) , Arconic Inc. (NYSE:ARNC) and Arch Coal Inc. (NYSE:ARCH) , each carrying a Zacks Rank #2 (Buy), at present. You can seeZacks Investment Research
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