Press release
Royal Gold Concludes an Outstanding Year of Financial Performance with Records for Revenue, Operating Cash Flow and Earnings for both the Fourth Quarter and the Full Year of 2024
DENVER--(BUSINESS WIRE)-- Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) reports net
About this update from Royal Gold, Inc.
[{"type":"text","content":" DENVER--(BUSINESS WIRE)--\nRoyal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) reports net income of $332.0 million, or $5.04 per share, for the year ended December 31, 2024, on revenue of $719.4 million and operating cash flow of $529.5 million. Adjusted net income1 was $346.4 million, or $5.26 per share.\n\n\nFor the quarter ended December 31, 2024 (\"fourth quarter\"), we reported net income of $107.4 million, or $1.63 per share, on revenue of $202.6 million and operating cash flow of $141.1 million. All annual and quarterly figures represent record results for the Company.\n\n\nWith respect to our 2024 guidance, we achieved the top end of our guidance range for gold sales, and exceeded our guidance ranges for copper sales and sale of other metals. Depletion, depreciation and amortization (\"DD&A\") expense, and effective tax rate were within the guidance ranges. Silver sales were slightly below the guidance range, which is in line with our previous disclosure.\n\n\n2024 Highlights:\n\n\n\nRecord revenue of $719.4 million, record operating cash flow of $529.5 million, and record earnings of $332.0 million, increases of 19%, 27%, and 39%, respectively, over the prior year\n\n\n\nRevenue split: 76% gold, 12% silver, 9% copper\n\n\n\nSales volume of 301,500 GEOs2\n\n\n\nSustained high adjusted EBITDA margin1 of 81%\n\n\n\nRepaid $250 million of debt, reducing total debt to $0\n\n\n\nPaid dividend of $1.60 per share, and increased the 2025 dividend by 12.5% to $1.80 per share, the 24th consecutive annual increase\n\n\n\nAcquired royalty interests on the Back River Gold District and Cactus Project\n\n\n\nRecognized first revenue contributions from the new Mara Rosa, Côté Gold and Manh Choh mines\n\n\n\nEntered into support agreement to incentivize investment that may provide a basis for mine life extension at Mount Milligan beyond 2035\n\n\n\n“Our business is designed to deliver leverage to gold, and our 2024 results demonstrate the direct relationship between a strong and rising gold price and Royal Gold's financial performance,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “This leverage is evidenced by the impressive percentage increases in operating cash flow and net income, both of which exceeded that of revenue. The foundation of our performan...