NYSE$FSM
Fortuna Silver Mines Inc · Q1 2026 earnings
Q1 2026 earnings · · After market close · Investor relations
Briefing
Fortuna Mining Corp. reported record Q1 2026 results with sales of $342.5 million and free cash flow of $174.0 million.
Fortuna delivered record quarterly financial performance in Q1 2026 driven by higher gold prices and strong production volumes at its key mines. Sales reached $342.5 million, up 76% year-over-year, with attributable net income of $111.0 million ($0.36 per share) and adjusted EBITDA of $218.8 million. The company generated record free cash flow of $174.0 million, boosting liquidity to $815.9 million while producing 72,872 gold equivalent ounces.
- Record sales of $342.5 million, up 76% from $195.0 million in Q1 2025, primarily due to higher realized gold prices averaging $4,884/oz.
- Attributable net income of $111.0 million ($0.36 EPS) more than tripled from $35.4 million ($0.12 EPS) in the prior year period.
- Record free cash flow of $174.0 million, up 161% year-over-year, with cash position strengthening to $665.9 million.
- GEO production of 72,872 ounces, with consolidated AISC of $2,107/oz GEO; on track for 2026 guidance.
Headline financials
Revenue & EPS history
Fortuna Silver · Revenue · Quarterly
$343M
Forward guidance
Company remains on track to deliver 2026 production guidance; key investment decisions on Diamba Sud and Séguéla expansion expected by mid-year.
Tailwinds
- 15% YoY increase in consolidated mineral reserves
- Strong safety performance with zero lost time injuries
Headwinds
- AISC expected at higher end of guidance range at Séguéla due to mine plan changes
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
-1.1%
Avg return
Earnings day
-2.6%
Avg return
5 days after
+2.7%
Avg return
30 days after
53%
33 / 62 earnings
Positive
+8.9%
Q2 2015
Best reaction
-31.1%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +5.9% | — | — | |
| Q3 2025 | +1.8% | +7.4% | +18.1% | |
| Q2 2025 | -13.1% | -10.1% | +15.7% | |
| Q4 2024 | +4.0% | -2.6% | -16.8% | |
| Q3 2024 | +0.6% | -3.8% | -5.3% | |
| Q2 2024 | -3.3% | -7.5% | -4.8% | |
| Q4 2023 | +7.6% | +13.0% | +56.5% | |
| Q3 2023 | +3.5% | +5.2% | +26.0% | |
| Q2 2023 | -11.8% | -9.4% | -15.8% | |
| Q1 2023 | +3.2% | -1.7% | -4.6% | |
| Q4 2022 | -8.8% | +0.6% | +12.7% | |
| Q3 2022 | +8.8% | +11.3% | +19.4% | |
| Q2 2022 | -9.3% | -7.3% | -14.2% | |
| Q1 2022 | -6.5% | +5.5% | +25.0% | |
| Q4 2021 | -5.6% | -10.4% | -8.2% | |
| Q3 2021 | -26.3% | -25.9% | -38.3% | |
| Q2 2021 | -0.9% | -0.9% | -0.9% | |
| Q1 2021 | +1.1% | -2.0% | +3.6% | |
| Q4 2020 | +4.5% | +8.4% | +6.1% | |
| Q3 2020 | -0.8% | -7.7% | -9.3% | |
| Q2 2020 | +5.3% | +7.6% | +14.2% | |
| Q1 2020 | +0.0% | +20.7% | +46.0% | |
| Q4 2019 | -31.1% | -30.4% | -19.1% | |
| Q3 2019 | -3.5% | +0.3% | +14.6% | |
| Q2 2019 | +1.7% | -4.5% | -12.8% | |
| Q1 2019 | -10.6% | -9.9% | -13.7% | |
| Q4 2018 | +1.7% | +3.6% | -6.1% | |
| Q3 2018 | -9.2% | -7.3% | -10.3% | |
| Q2 2018 | -5.6% | -8.6% | -14.4% | |
| Q1 2018 | -0.9% | -0.9% | -3.5% | |
| Q4 2017 | +0.2% | +0.2% | +19.1% | |
| Q3 2017 | +1.2% | -2.8% | -0.5% | |
| Q2 2017 | -2.7% | -1.1% | +7.6% | |
| Q1 2017 | +2.4% | +1.7% | +10.4% | |
| Q4 2016 | +2.3% | +2.3% | +9.0% | |
| Q3 2016 | -4.7% | -16.5% | -11.4% | |
| Q2 2016 | -4.0% | -9.3% | +2.1% | |
| Q1 2016 | -0.8% | — | — | |
| Q4 2015 | -1.6% | — | — | |
| Q3 2015 | +4.2% | — | — | |
| Q2 2015 | +8.9% | — | — | |
| Q1 2015 | +5.3% | — | — | |
| Q4 2014 | +3.6% | — | — | |
| Q3 2014 | +3.1% | — | — | |
| Q2 2014 | +3.0% | — | — | |
| Q1 2014 | +3.0% | — | — | |
| Q4 2013 | -2.8% | — | — | |
| Q3 2013 | +4.5% | — | — | |
| Q2 2013 | +5.0% | — | — | |
| Q1 2013 | +5.0% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2012 | +2.6% | — | — | |
| Q2 2012 | -3.2% | — | — | |
| Q1 2012 | -3.2% | — | — | |
| Q4 2011 | +5.5% | — | — | |
| Q3 2011 | -7.7% | — | — | |
| Q2 2011 | -1.9% | — | — | |
| Q1 2011 | +3.8% | — | — | |
| Q4 2010 | +3.7% | — | — | |
| Q3 2010 | +0.6% | — | — | |
| Q2 2010 | -3.0% | — | — | |
| Q1 2010 | -1.9% | — | — |
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