Filing Flows › First Majestic Silver (AG) › Q2 2026 › vs Q2 2025
First Majestic Silver (AG) Q2 2026 vs Q2 2025 (year over year)
First Majestic Silver's revenue rose $151M (+57%) from $264M in Q2 2025 to $415M in Q2 2026. The biggest changes: Silver +$105M (+73%); Gold +$31.1M (+35%); Zinc +$8.7M (+42%). Operating margin 47.5% against 21.4% (+26.1 pts).
First Majestic Silver, Q2 2026: revenue $415M (+57% year over year), operating margin 47.5%, net earnings $109M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 47.5% | 21.4% | +26.1 pts |
| Net margin | 26.3% | 19.9% | +6.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Silver | $249M | $144M | $105M | +73% |
| Gold | $120M | $88.8M | $31.1M | +35% |
| Zinc | $29.7M | $21.0M | $8.7M | +42% |
| Lead | $14.5M | $10.7M | $3.7M | +35% |
| Copper | $1.6M | $320K | $1.2M | +390% |
| Revenue | $415M | $264M | $151M | +57% |
| Operating profit | $198M | $56.6M | $141M | +249% |
| Costs & expenses | $218M | $208M | $10.3M | +5% |
| Pre-tax earnings | $194M | $56.6M | $137M | +243% |
| Other expense, net | $3.6M | $0 | $3.6M | — |
| Cost of revenue | $143M | $141M | $2.3M | +2% |
| General & admin | $13.9M | $12.5M | $1.4M | +11% |
| Other operating costs | $60.6M | $54.0M | $6.6M | +12% |
| Net earnings | $109M | $52.5M | $56.9M | +108% |
| Minority interests | $16.5M | $4.0M | $12.4M | +308% |
| Income tax | $68.1M | $0 | $68.1M | — |
Questions
How much did First Majestic Silver's revenue grow year over year in Q2 2026?
First Majestic Silver's revenue rose $151M (+57%) from $264M in Q2 2025 to $415M in Q2 2026.
What drove First Majestic Silver's revenue change in Q2 2026?
Silver +$105M (+73%); Gold +$31.1M (+35%); Zinc +$8.7M (+42%).