Filing Flows › Wheaton Precious Metals (WPM) › Q3 2026 › vs Q2 2026
Wheaton Precious Metals (WPM) Q3 2026 vs Q2 2026 (quarter over quarter)
Wheaton Precious Metals's revenue fell $157M (-17%) from $929M in Q2 2026 to $772M in Q3 2026. Gross margin 69.8% against 74.0% (-4.2 pts).
Wheaton Precious Metals, Q3 2026: revenue $772M (+62% year over year), operating margin 66.2%, net earnings $410M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 69.8% | 74.0% | -4.2 pts |
| Operating margin | 66.2% | 71.8% | -5.6 pts |
| Net margin | 53.2% | 58.5% | -5.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $772M | $929M | −$157M | -17% |
| Gross profit | $539M | $688M | −$149M | -22% |
| Cost of revenue | $233M | $241M | −$8.1M | -3% |
| Operating profit | $511M | $667M | −$156M | -23% |
| Operating expenses | $27.5M | $20.8M | $6.7M | +32% |
| Pre-tax earnings | $488M | $645M | −$157M | -24% |
| Other expense, net | $23.3M | $22.0M | $1.3M | +6% |
| General & admin | $10.2M | $11.3M | −$1.1M | -10% |
| Other operating costs | $17.3M | $9.5M | $7.8M | +82% |
| Net earnings | $410M | $543M | −$133M | -24% |
| Income tax | $77.4M | $102M | −$24.4M | -24% |
Questions
How much did Wheaton Precious Metals's revenue grow quarter over quarter in Q3 2026?
Wheaton Precious Metals's revenue fell $157M (-17%) from $929M in Q2 2026 to $772M in Q3 2026. Gross margin 69.8% against 74.0% (-4.2 pts).