Business
Altius Minerals Reports Q3 2022 Attributable Royalty Revenue of $26.2M and Adjusted Earnings (1,2) of $9.8M
ST. JOHN’S, Newfoundland and Labrador / Nov 09, 2022 / Business Wire / Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) repo
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador / Nov 09, 2022 / Business Wire / Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) reports third quarter 2022 revenue of $25.9 million compared to $20.4 million for the same period in 2021 and third quarter attributable royalty revenue(1,2) of $26.2 million ($0.55 per share(1,2)), which compares with the $20.8 million ($0.50 per share) reported for the same quarter in the prior year. On a year-to-date basis, attributable royalty revenue of $80.3 million is tracking 33% higher than the $60.5 million reported for the prior year nine-month comparable period. Adjusted EBITDA(1,2) of $23.7 million or $0.50 per share(1,2) during Q3 2022 compares to $16.9 million or $0.41 per share during the prior year quarter. On a year-to-date basis, adjusted EBITDA of $71.7 million is higher by 46% from the prior year and results in an increase in EBITDA margin from 81% to 89%. Q3 2022 adjusted operating cash flow(1,2) of $25.9 million or $0.54 per share(1,2) compares to $18.9 million or $0.46 per share in last year’s comparable quarter. On a year-to-date basis, adjusted operating cash flow (1,2) increased by 69% to $56.7 million from $33.5 million recorded for the nine-month period ended September 30, 2021. Adjusted operating cash flow trended higher as revenue growth outstripped cost increases. Net earnings of $11.5 million or $0.22 per share for Q3 2022 compares to net earnings of $9.8 million or $0.24 per share in Q3 2021. Adjusted net earnings per share(1,2) of $0.20 in the current quarter is consistent with Q3 2021. The main adjusting items in the third quarter of this year are unrealized foreign exchange losses of $2.2 million ($0.05 per share), adjustments for non-recurring other income of $2.1 million ($0.04 per share) and unrealized gains on derivatives of $0.9 million ($0.02 per share). The prior year quarter was also adjusted for net gains of $2.0 million ($0.05 per share) related to the sale of mineral properties, gains on derivatives and debt extinguishment costs. In Thousands of Canadian Dollars Three months ended Adjusted Net Earnings September 30, 2022 September 30, 2021 Net earnings attributable to common $ 10,712 $ 9,947 Addback (deduct): &n...