Pan American Silver Corp. (PAAS) Earnings Call Transcripts

Pan American Silver Corp.'s Latest Earnings Call - June 1, 2026

In the second quarter of 2026, Pan American Silver Corp. (PAAS:CA) reported revenues of $1.3 billion and earnings per share (EPS) of $1.05, both reflecting strong operational performance. Management reaffirmed guidance for silver production between 25 million to 27 million ounces for the fiscal year, while announcing a significant shareholder return plan of $1 billion, comprising dividends and share buybacks. The company emphasized its robust cash position and ongoing projects, including the La Colorada skarn development, which is expected to enhance future production capacity.

Reported metrics

Guidance from management

Management maintained silver production guidance of 25 million to 27 million ounces for 2026 and confirmed a $1 billion shareholder return plan, indicating confidence in cash flow and operational stability.

What management said

One of the trade-off studies we're doing right now is we're looking at equipment that we have already in the company. We bought a fairly big plan to see if that makes sense to use that. But that's certainly something we're working through. No, we think that the right approach is to delay that plant as long as we can. There's no point having it there sitting around doing nothing. Steve, do you want to weigh in on tha...

Yes, absolutely. And we do have the option as well of if you built the other plant to keep the existing plant going. It's a beautiful plant. I mean there's a pretty much a new plant, and it's a beautiful plant. So it was just an efficiency thing in operating cost that we decided to go to the 1 plant, but there is that potential there to keep that on running as well. Can you mention it on the mice just [indiscernible...

What analysts pressed on

Analysts expressed concerns regarding the timing and regulatory challenges associated with the Escobal and Navidad projects. Additionally, there were questions about the potential for further M&A activity and the management's strategy for optimizing noncore assets.

Main topics on the call

• Shareholder Return Strategy — Management announced a plan to return $1 billion to shareholders in 2026, consisting of $305 million in fixed quarterly dividends and approximately $700 million in share buybacks. CEO Michael Steinmann stated, "I have al...
• Production Guidance — Pan American maintained its silver production guidance for 2026 at 25 million to 27 million ounces, signaling stability in output. This aligns with the company's historical production levels and reflects ongoing operatio...
• La Colorada Skarn Development — The La Colorada skarn project is projected to produce over 19 million ounces of silver annually at peak production. Management described it as "one of the biggest discoveries in the world over the last few years," highli...
• Cost Management — The all-in sustaining cost for silver production is expected to be between $6.63 and $8.00 per ounce, reflecting effective cost controls despite inflationary pressures. CFO Ignacio Couturier noted, "We have maintained ou...

Read the full Pan American Silver Corp. transcript (June 1, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 43 Pan American Silver Corp. earnings call transcripts on record, spanning February 20, 2020 to June 1, 2026. Based on this history, Pan American Silver Corp. reports quarterly. The most recent call on file is dated June 1, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PAAS

Exchange

TSX

Country

CA

Sector

Materials

Industry

Metals and Mining

Calls on record

43

First call

February 20, 2020

Most recent

June 1, 2026

Reporting cadence

quarterly