EarningsQ2 2026 Earnings Report
DSVSF Q2 2026 EPS Results
Actual EPS$0.11
Consensus EPS$0.10
Beat/MissBeat by +$0.01
One Year Ago EPS$0.04
DSVSF Q2 2026 Revenue Results
Actual Revenue$310.66M
Expected Revenue$334.99M
Beat/MissMissed by -$24.33M
YoY Revenue Growth+124.64%
Earnings Announcement Details
QuarterQ2 2026
Date08/13/2026
TimeBefore Open
Conference CallThursday, August 13, 2026
DSVSF Upcoming Earnings
Discovery Silver's next earnings date is estimated for November 18, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DSVSF Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights a strong operational quarter with record revenue, record gold production, materially higher mill throughput, significant exploration success and the strategic acquisition of Kidd—supported by a robust liquidity position. Offsetting these positives are near-term cash timing effects (notably a one-month Kidd remittance lag), elevated sustaining and growth capital spending that increased AISC and produced a small free cash outflow this quarter, and typical forward-looking execution and permitting risks. Management communicates clear operational momentum and a plan to invest for growth, with expectations that costs will improve in H2 and that 2026 guidance will be met.Company Guidance
Record Revenue and Quarterly Growth
Revenue of $319 million in Q2 2026, a 12% increase quarter-over-quarter and the fourth consecutive quarter of revenue growth; Kidd operations contributed ~$30 million to Q2 revenue after closing on June 1.
Record Gold Production and Strong Throughput
Record gold production of 67,300 ounces in Q2 (12% higher than Q1); gold poured and sold ~66,000 ounces. Mill throughput of 904,000 tonnes in Q2, up ~30% vs prior quarter, with >11,000 tpd on 49 days and >12,000 tpd on 11 days.
Improved Unit Milling Efficiency
Milling cost of $21.50 per tonne in Q2, 14% better than Q1 and close to the company's best quarterly average ($21.20/tonne).
Earnings and EBITDA Momentum
Adjusted earnings of $92.3 million ($0.11/share) in Q2, up from $82.7 million ($0.10) in Q1 (≈+11.6% QoQ) and up from $28.4 million ($0.04) in Q2 2025 (nearly 3x YoY). EBITDA of $170 million was similar to the prior quarter, maintaining strong momentum.
Kidd Acquisition Provides Strategic Growth Enabler
Acquisition of Kidd operations (closed June 1) immediately contributed to revenue (~$30M) and is described as a major enabler for growth—providing processing capacity (multiple circuits), infrastructure (power, water, land), and potential to process Borden and Pamour ores; Kidd first-month performance showed revenue ~$30M vs production cost ~$19M.
Robust Liquidity and Balance Sheet
Cash balance of $364 million at quarter-end and over $600 million in liquidity at quarter-end; since quarter close, the revolving credit facility was upsized to $400 million, bringing total current liquidity to over $750 million.
Accelerated Capital Deployment to Support Growth
Q2 capital expenditures of $86 million to advance tailings capacity, pre-stripping at Pamour, new mobile fleets and infrastructure at Hoyle Pond and Borden; planned 2026 capital program includes $195–235M growth capital (including $25–35M capitalized exploration) and $120–165M sustaining capital.
Exploration Success Across Multiple Targets
Multiple strong drill results and three press releases in three weeks. Pamour: mineralized strike >4 km, system open in all directions and at depth; Dome: resource base >11M oz and significant historic production with high-grade intercepts (e.g., reported 278.48 g/t over 21 m); TBZ, Owl Creek, Borden all reporting encouraging intercepts and ongoing resource updates targeted this year.
Operational Safety Improvements
Kidd operations reported a total recordable injury frequency rate of zero in the first month post-acquisition; company-wide TMIFR improved materially to ~1.
Guidance and Outlook
Management reports they are tracking well to achieve full-year 2026 guidance and expect unit costs to improve in H2 2026 as production and sales volumes build.
DSVSF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed