Wheaton Reports Record Nine-Month Revenue of $2.6 Billion
Wheaton Precious Metals posted third-quarter revenue of $772 million, up 62% year on year, on higher metal prices and sales volumes.
Updated on Nov. 6, 2026 in Economic Indicators
Wheaton Precious Metals reported third-quarter 2026 revenue of $772 million, up 62% year on year, with net earnings of US$410 million. For the first nine months, revenue reached a record US$2.6 billion.
Why it matters
Higher realised metal prices and increased sales volumes drove the gains, while the company maintained its 2026 production guidance of 860,000 to 940,000 gold equivalent ounces. The results reflect the company's exposure to precious metal pricing.
Adjusted net earnings rose 46% to US$410 million and operating cash flow climbed 68% to US$645 million, while the company ended September with US$146 million in cash and US$1.5 billion in net debt.
The players
Wheaton Precious Metals
A precious metals streaming company that purchases the right to receive metal output from mining operations in exchange for upfront financing.
The details
Production growth came from the expanded Antamina silver stream and contributions from the Hemlo, Fenix, Platreef and Mineral Park operations. Wheaton also declared a quarterly dividend of US$0.195 per share.
Timeline
Third quarter 2026: revenue of $772 million reported.
September 2026: quarter ended with US$146 million in cash and US$1.5 billion in net debt.
2030: target production of 1.2 million gold equivalent ounces, around 50% above 2025 levels.
Market Dynamics
Wheaton's streaming business model, which exchanges upfront financing for rights to a share of mine output, leaves its revenues directly exposed to gold and silver prices. The company's forecast of roughly 50% production growth to 1.2 million ounces by 2030 extends that model into a longer expansion cycle.
Shareholders received a quarterly dividend of US$0.195 per share, and the company's record revenue and operating cash flow indicate stronger cash generation. Investors tracking precious metals equities may weigh these results against metal price movements.
The takeaway
Revenue from streaming companies tracks metal prices closely, so quarterly results can swing with the market. Readers following the sector should watch realised prices alongside production volumes.
Further reading
Track other economic indicators that shape commodity and precious metals markets.
