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Franco-Nevada Posts Record First Half as Cobre Panamá Deliveries Near
['Jay Lutz']
the deep dive
Net income climbed 43% to $354.0 million, or $1.84 a share, while adjusted net income increased 46% to $349.2 million, or $1.81 a share.
Each of those figures trailed the first quarter, when revenue hit $650.7 million and adjusted earnings came in at $2.38 a share.
Taken together, the two quarters still produced a record first half, with revenue of $1.23 billion and adjusted net income of $807.5 million.
Adjusted EBITDA margin came in at 91.2%, down from 99.0% a year earlier, and the adjusted net income margin narrowed to 60.1% from 64.6%.
Gold contributed 91,224 ounces and $403.0 million, silver 19,695 GEOs and $83.5 million, and platinum group metals 3,192 GEOs and $12.2 million.