Equity Profile

WPM

Wheaton Precious Metals Corp.

MaterialsGold$52.8B

May7Thu

Post-Earnings Recap

ReportedQ1-2026After Close5:00 PM EDT

Wheaton Precious Metals Beats on EPS, Stock Down 2.24%

Metric	Actual	Expected	Surprise
EPS	$1.28	$1.24	+11.56%
Revenue	N/A	$873M	N/A

management commentary, guidance changes, and full analysis available with Pro.

Wheaton Precious Metals Beats on EPS, Stock Down 2.24%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$1.28	$1.24	+11.56%
Revenue	N/A	$873M	N/A

Management Commentary

Tone: Unknown

No transcript is on record for this earnings call, and the analysis is based solely on numerical results.

What It Means

Wheaton Precious Metals reported better-than-expected earnings per share, which indicates strong profitability. However, the stock fell by 2.24% following the report, suggesting that investors may have been disappointed by the lack of revenue details and guidance. The absence of additional insights from management could have contributed to the negative stock reaction.

Company Snapshot

Wheaton Precious Metals Corp. (WPM) is a leading precious metals streaming company focused on gold and silver....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company managed costs and revenue this quarter.

$1.24

Revenue

Revenue figures will provide insight into overall sales performance and demand for precious metals.

$873M

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Wheaton Precious Metals Corp. (WPM) is a leading precious metals streaming company focused on gold and silver. With a market cap of $60 billion, it plays a significant role in the materials sector, benefiting from trends in commodity prices and investor interest in precious metals as a hedge against inflation.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+12.08%

Avg Stock Reaction

-0.53%

Last Quarter Recap

In Q4 2025, Wheaton reported an EPS of $1.22, significantly beating estimates. However, the stock fell 1.98% the following day, indicating mixed market reactions despite strong earnings.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Wheaton to report solid earnings driven by higher gold prices and increased production. However, there are concerns about potential volatility in commodity prices.

Bull Case

If gold prices remain strong and the company continues to manage its costs effectively, it could see higher-than-expected revenue and profit margins.

Bear Case

If commodity prices decline or production issues arise, the company may miss earnings expectations, leading to a negative market reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

$1.24

EPS is a key indicator of profitability and will show how well the company managed costs and revenue this quarter.

Revenue

$873M

Revenue figures will provide insight into overall sales performance and demand for precious metals.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed $1.24, reflecting strong operational performance?

A beat on EPS could signal effective cost management and robust demand for precious metals, positively impacting market sentiment.

How does management view the impact of gold price fluctuations on future revenue?

Insights into gold price expectations will help investors gauge potential revenue stability and overall market positioning.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on Wheaton's profitability this quarter, as recent trends suggest stronger demand.

Supporting Evidence

Wheaton's historical EPS beat rate of 75% indicates strong operational performance.

The options market pricing a 4.1% move suggests expectations of significant volatility, which may not align with historical performance.

Recent insider buying activity could indicate confidence in the company's future performance.

Key Risk

If gold prices decline sharply, it could undermine the entire earnings narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating the sustainability of current gold prices and Wheaton's ability to maintain margins amid potential fluctuations.

Bull Confirmed If

An EPS of $1.30 or higher would confirm strong operational performance and cost management.

Bear Confirmed If

An EPS below $1.20 would raise concerns about profitability and market conditions.

Pre-Earnings Positioning

Options Market

Implied Move

±4.1%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a significant move, suggesting investors expect volatility around the earnings report.

Options are pricing ±4.1% while WPM has averaged ±2.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.0%

30d HV

49.9%

Calls (320K)P/C Ratio: 0.27Puts (116K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Materials

n=30

Fade rate: 1 of 10 (10%)

This setup has occurred 30 times across Materials in the last 2 years. 9 of 10 (90%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.5%, with a raw directional average of +0.2% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Wheaton beats expectations, history suggests the stock could see a modest positive reaction, confirming confidence in management's strategy.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty about future commodity prices.

Miss

A miss could lead to a notable decline, with history indicating an average drop of around 2.41% following earnings misses.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$15,001.00–$50,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production levels and their impact on revenue.
2Management's outlook on gold price trends for the upcoming quarters.
3Details on cost management strategies and their effectiveness.
4Insights into any new streaming agreements or partnerships.
5Responses to questions about market volatility and its potential effects.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

May4

BSMReported

Black Stone Minerals, L.P.

RecapView

May4

FOLDAMC

Company Snapshot

Wheaton Precious Metals Corp. (WPM) is a leading precious metals streaming company focused on gold and silver....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company managed costs and revenue this quarter.

$1.24

Revenue

Revenue figures will provide insight into overall sales performance and demand for precious metals.

$873M

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+12.08%

Avg Stock Reaction

-0.53%

Last Quarter Recap

In Q4 2025, Wheaton reported an EPS of $1.22, significantly beating estimates. However, the stock fell 1.98% the following day, indicating mixed market reactions despite strong earnings.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Wheaton to report solid earnings driven by higher gold prices and increased production. However, there are concerns about potential volatility in commodity prices.

Bull Case

If gold prices remain strong and the company continues to manage its costs effectively, it could see higher-than-expected revenue and profit margins.

Bear Case

If commodity prices decline or production issues arise, the company may miss earnings expectations, leading to a negative market reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

$1.24

EPS is a key indicator of profitability and will show how well the company managed costs and revenue this quarter.

Revenue

$873M

Revenue figures will provide insight into overall sales performance and demand for precious metals.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed $1.24, reflecting strong operational performance?

A beat on EPS could signal effective cost management and robust demand for precious metals, positively impacting market sentiment.

How does management view the impact of gold price fluctuations on future revenue?

Insights into gold price expectations will help investors gauge potential revenue stability and overall market positioning.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on Wheaton's profitability this quarter, as recent trends suggest stronger demand.

Supporting Evidence

Wheaton's historical EPS beat rate of 75% indicates strong operational performance.

The options market pricing a 4.1% move suggests expectations of significant volatility, which may not align with historical performance.

Recent insider buying activity could indicate confidence in the company's future performance.

Key Risk

If gold prices decline sharply, it could undermine the entire earnings narrative.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating the sustainability of current gold prices and Wheaton's ability to maintain margins amid potential fluctuations.

Bull Confirmed If

An EPS of $1.30 or higher would confirm strong operational performance and cost management.

Bear Confirmed If

An EPS below $1.20 would raise concerns about profitability and market conditions.

Pre-Earnings Positioning

Options Market

Implied Move

±4.1%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a significant move, suggesting investors expect volatility around the earnings report.

Options are pricing ±4.1% while WPM has averaged ±2.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.0%

30d HV

49.9%

Calls (320K)P/C Ratio: 0.27Puts (116K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Materials

n=30

Fade rate: 1 of 10 (10%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Wheaton beats expectations, history suggests the stock could see a modest positive reaction, confirming confidence in management's strategy.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty about future commodity prices.

Miss

A miss could lead to a notable decline, with history indicating an average drop of around 2.41% following earnings misses.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

House only

Est. Notional

$15,001.00–$50,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production levels and their impact on revenue.
2Management's outlook on gold price trends for the upcoming quarters.
3Details on cost management strategies and their effectiveness.
4Insights into any new streaming agreements or partnerships.
5Responses to questions about market volatility and its potential effects.