First Quantum Minerals Reports Widening Q1 Loss Despite Revenue Growth

Apr 28, 2026 22:23 UTC

FM.TO

Short term

First Quantum Minerals saw its quarterly net loss expand significantly to $196 million. Despite a rise in total revenue, the company's bottom line suffered a sharp decline.

Q1 revenue grew to $1.404 billion from $1.190 billion YoY
Net loss expanded to $196 million from $23 million
Loss per share increased to $0.24
Shares fell 4.54% to close at CAD 34.29

First Quantum Minerals Ltd. (FM.TO) reported a substantial increase in net losses for the first quarter of 2026, overshadowing a growth in top-line revenue. The results indicate a widening gap between the company's sales performance and its operational profitability. For the first quarter, the mining company generated $1.404 billion in revenue, a notable increase from the $1.190 billion reported during the same period last year. However, this growth failed to translate into profit, as the company posted a net loss of $196 million. This represents a sharp deterioration compared to the $23 million net loss recorded in Q1 2025. On a per-share basis, the loss expanded to $0.24, up from a loss of $0.03 in the prior-year period. Equity markets reacted negatively to the widening deficit. Shares of FM.TO closed Tuesday's session on the Toronto Stock Exchange at CAD 34.29, marking a decline of CAD 1.63, or 4.54%.