For the quarter ended Sept. 30, Franco-Nevada earned $2.05 a share, up from $1.49 a share a year earlier, when profit was $287.5 million. Adjusted earnings, excluding certain one-time items, were $1.89 a share, topping the $1.74 forecast from analysts polled by FactSet.

Revenue increased to $549.3 million, below the $568.4 million analysts expected. Gold equivalent ounces sold fell 6% to 130,435.

“Precious metal GEO deliveries were slightly below expectations in the period, although strong oil prices boosted our diversified revenue, and we are now tracking towards the mid-range of our annual guidance,” Chief Executive Officer Paul Brink said. Franco-Nevada had previously said it was tracking toward the upper half of its guidance range.