Filing Flows › Hecla Mining (HL) › Q1 2026
Hecla Mining (HL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Hecla Mining (HL) reported revenue of $411M for the first quarter 2026 (Q1 2026), +100% from a year earlier and -8% from the quarter before. Operating margin was 54.2%, net loss $19.0M (4.6% of revenue).
Hecla Mining, Q1 2026: revenue $411M (+100% year over year), operating margin 54.2%, net loss $19.0M, operating cash flow $194M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $411M | -8% | +100% |
| Operating profit | $223M | +1% | +326% |
| Net earnings | −$19.0M | -114% | -166% |
| Operating cash flow | $194M | -11% | +444% |
| Free cash flow | $155M | +15% | — |
What changed
Revenue was $411.4M in Q1 2026, up 100% year over year and down 8% from the previous quarter. Silver Contracts was the largest line at 72% of revenue. Silver Contracts added $177.7M year over year (up 151%), 86% of the total change.
Gross margin was 61.6%, up 28.1 points from Q1 2025. Operating profit was $223.1M, a 54.2% margin (up 31.1 points year over year). Of the extra revenue versus Q1 2025, 85% reached operating profit, above the 23% margin then. Operating expenses grew 42% against revenue growth of 100%. The fastest-growing cost line was Other operating costs (+55%). The quarter ended with a net loss of $19.0M, after a profit of $134.4M the previous quarter. Net interest and other expense of $191.2M was the main reason.
Operating cash flow was $194.2M (up 444% year over year). Non-cash charges added back $34.5M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items added $176.0M. Capital expenditures of $39.3M left free cash flow of $155.0M.
Questions
What was Hecla Mining's revenue in the first quarter 2026?
Hecla Mining (HL) reported revenue of $411M for the first quarter 2026 (Q1 2026), +100% from a year earlier and -8% from the quarter before.
Was Hecla Mining profitable in the first quarter 2026?
Operating profit was $223M (54.2% of revenue) and net loss $19.0M.
Source: Hecla Mining 10-Q on SEC EDGAR.