Higher gold and silver prices and increased sales volumes drove an 85% year-over-year jump in quarterly revenue.
Wheaton Precious Metals reported record second-quarter revenue of $929 million, up 85% from the prior-year period. The gain was attributed to a 61% increase in the average realized gold equivalent price and a 14% rise in sales volumes to 209,000 gold equivalent ounces (GEOs).
Production for the quarter totaled 202,000 GEOs, a 6% increase year over year. Gold accounted for 46% of revenue, silver 52%, with cobalt and palladium making up the remainder. Net earnings surged 86% to $543 million.
The company reaffirmed its full-year production guidance of 860,000 to 940,000 GEOs, supported by strong first-half performance and contributions from new streams.