Wheaton posts record net earnings, operating cashflow in Q2
London-, Toronto- and New York-listed precious metals streaming company Wheaton Precious Metals has reported record year-to-date net earnings of $1.1-billion and record operating cashflow of $1.4-billion.
The company generated a record $929-million of revenue, net earnings of $543-million and operating cashflow of $650-million in the second quarter alone.
Wheaton's year-to-date revenue reached $1.8-billion, which president and CEO Haytham Hodaly attributes to solid production across the portfolio, robust margins and the strength of the company's streaming model despite commodity price volatility and cost pressures so far in the year.
The company, which has streaming and royalty agreements on 22 operating mines, 20 development projects and 15 exploration and other stage projects, declared a quarterly dividend of $0.195 apiece.
The group's attributable gold-equivalent production amounted to 202 200 oz in the second quarter, marking a 6% year-on-year increase.
As at June 30, about 157 600 gold-equivalent ounces were produced but not yet delivered, representing about 2.6 months of payable production.
Hodaly says Wheaton's cash balance of $100-million and $2.6-billion of available liquidity puts it in good stead to pursue accretive streaming opportunities while continuing to advance one of the strongest growth profiles in the industry.
"Backed by a diversified portfolio of high-quality assets and a compelling pipeline of growth, we believe we are well positioned to deliver long-term value for all stakeholders."
Wheaton's estimated attributable production in 2026 is forecast to be between 400 000 and 430 000 oz of gold, between 27-million and 29-million ounces of silver and between 19 000 and 21 000 gold-equivalent ounces of other metals, resulting in yearly production of between 860 000 and 940 000 gold-equivalent ounces.
This production will increase by about 50% to reach 1.2-million gold-equivalent ounces by 2030 through 2035.
