Q4 25 EPS
$0.20
BEAT +10.19%
Est. $0.18
Q4 25 Revenue
$448.1M
BEAT +26.13%
Est. $355.3M
vs S&P Since Q4 25
-37.4%
TRAILING MARKET
HL -27.8% vs S&P +9.6%
Full Year 2025 Results
FY 25 EPS
$0.49
FY 25 Revenue
$1.42B
Market Reaction
Did HL Beat Earnings? Q4 2025 Results
Hecla Mining delivered a standout fourth quarter to cap what the company described as a transformational year, posting earnings of $0.20 per share against a consensus estimate of $0.18, a beat of 10.19%, while revenue of $448.11 million topped foreca… Read more Hecla Mining delivered a standout fourth quarter to cap what the company described as a transformational year, posting earnings of $0.20 per share against a consensus estimate of $0.18, a beat of 10.19%, while revenue of $448.11 million topped forecasts by 26.13% and surged 79.5% from the year-ago period. The principal engine behind those results was a dramatic repricing of precious metals, with realized silver averaging $45.25 per ounce for the full year versus $28.58 in 2024 and gold fetching $3,490 per ounce compared to $2,403, amplifying the contribution of record quarterly sales that helped push full-year revenue past $1.42 billion. Operationally, Lucky Friday set a silver production record of 5.3 million ounces and Keno Hill turned its first profitable year under Hecla ownership, underscoring the breadth of the operational improvement. The pending sale of Casa Berardi to Orezone Gold for up to $593 million, expected to close in Q1 2026, will sharpen the company's identity as a focused North American silver producer, with 2026 silver output guided at 15.1 to 16.5 million ounces.
Key Takeaways
- • Higher realized precious metals prices: silver $45.25/oz vs $28.58/oz and gold $3,490/oz vs $2,403/oz year-over-year
- • Higher payable silver and gold ounces sold, up over 5% compared to prior year
- • Lucky Friday record silver production of 5.3 million ounces
- • Keno Hill first year of profitability and positive free cash flow under Hecla ownership
- • Greens Creek generated $256 million in free cash flow for 2025
- • $29 million lower ramp-up and suspension costs driven by Keno Hill transitioning to profitability
- • $8 million lower interest expense from reduction in gross debt
HL YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
HL Revenue by Segment
With YoY comparisons, source: SEC Filings
“2025 was a transformational year for Hecla with strong operational and financial results across a number of key metrics. Our balance sheet improved significantly and we are now well positioned to invest in value surfacing initiatives focused on our best-in-class project pipeline. All three silver operations delivered strong results - Lucky Friday achieved record production, Keno Hill reached a significant milestone, achieving its first full year of profitability under Hecla's ownership, and Greens Creek continued generating substantial cash flow. All while safety performance improved 13% company-wide.”
— Rob Krcmarov, Q4 2025 Earnings Press Release
HL Earnings Trends
HL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
HL EPS Trend
Earnings per share: estimate vs actual
HL Revenue Trend
Quarterly revenue: estimate vs actual
HL Quarterly Results
12 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.23 | $0.25 | +10.62% | $411.4M | -4.86% |
| Q4 25 BEAT FY | $0.18 | $0.20 | +10.19% | $448.1M | +26.13% |
| FY Full Year | — | $0.49 | — | $1.42B | — |
| Q3 25 BEAT | $0.09 | $0.12 | +26.45% | $409.5M | +26.36% |
| Q2 25 BEAT | $0.05 | $0.08 | +48.70% | $304.0M | +17.99% |
| Q1 25 BEAT | $0.05 | $0.05 | +0.20% | $261.3M | +9.50% |
| Q4 24 MISS FY | $0.05 | $0.02 | -61.24% | $249.7M | +4.18% |
| FY Full Year | — | $0.06 | — | $929.9M | — |
| Q3 24 MISS | $0.05 | $0.03 | -40.00% | $245.1M | +6.84% |
| Q2 24 MISS | $0.04 | $0.02 | -50.00% | $245.7M | +12.07% |
| Q1 24 | — | — | — | — | — |
| Q4 23 | — | — | — | — | — |
| Q3 23 | — | — | — | — | — |
| Q2 23 | — | — | — | — | — |