Business
First Majestic Silver Announces Q1 2026 Financial Results and Increased Quarterly Dividend Payment; Provides Management Updates
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic")
About this update from First Majestic Silver Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the \"Company\" or \"First Majestic\") is pleased to announce the Company's unaudited condensed interim consolidated financial results for the first quarter ended March 31, 2026. The full version of the quarterly financial statements and the accompanying management's discussion and analysis can be viewed on the Company's website at www.firstmajestic.com or under the Company's profiles on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. All amounts are in U.S. dollars unless stated otherwise. First Majestic delivered a strong first quarter, with silver and gold production tracking well towards the Company's 2026 guidance targets. Revenues increased significantly, up 95% year-over-year to $476.7 million, driven by higher realized silver and gold prices, even with the Company holding back $63.6 million of silver and gold bullion. A continued focus on operational efficiency allowed revenues to grow substantially faster than costs, including variable costs such as royalties and worker production bonuses that rise with the silver price, resulting in meaningful margin expansion. Net earnings[1] for the quarter were $128.1 million while earnings per share (\"EPS\") were $0.26. Adjusted net earnings totaled $151.7 million, or $0.31 per share. Throughput rates increased by 12%, enabling the Company to optimize lower marginal cut-off grades. As a result, overall profitability improved across all mine sites though reported per-ounce costs appeared higher, which was largely attributable to unfavourable year-over-year changes in the silver equivalent (\"AgEq\") conversion ratios driven by rising metal prices, which have a positive impact on the Company overall. The Company generated $223.5 million in free cash flow in the first quarter, after paying $95.5 million in cash income taxes, primarily related to 2025, leading to a record $1,128.6 million in treasury. FIRST QUARTER HIGHLIGHTS Treasury Position ($190.9 million increase from December 31, 2025): The Company ended the quarter with $1,128.6 million in treasury, representing a 20% increase compared to $937.7 million at the end of 2025, and the highest treasury position in the Company's history. Cash in treasury includes $143.8 million held in restr...