Press release
Royal Gold Reports a Strong Finish to Calendar 2022 with Solid Operating and Financial Results for the Fourth Quarter of 2022
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 $239.0 million, or $3.63 per share, for the year ended December 31, 2022, on revenue of $603.2 million and operating cash flow of $417.3 million. Adjusted net income1 was $226.1 million, or $3.43 per share.\n\nFor the quarter ended December 31, 2022 (“fourth quarter”), net income of $56.4 million, or $0.86 per share, was reported on revenue of $163.0 million and operating cash flow of $101.0 million. Adjusted net income1 was $59.7 million, or $0.91 per share.\n\nProduction volume of 335,100 GEOs2 for 2022 was within the guidance range of 315,000 to 340,000 GEOs. On a comparable basis, at previously-provided guidance prices3 and after excluding the contribution of royalty ounces for transactions completed during 20224, production volume for 2022 was within the top half of the guidance range at approximately 333,700 GEOs.\n\n2022 Highlights:\n\n\nRevenue of $603.2 million, operating cash flow of $417.3 million, and earnings of $239.0 million\n\n\nRevenue split: 73% gold, 11% silver, 12% copper\n\n\nProduction volume of 335,100 GEOs, within the guidance range of 315,000-340,000 GEOs4\n\n\nAcquired two royalties on the world-class Cortez Complex in Nevada\n\n\nAcquired royalty on the emerging Great Bear project in Ontario\n\n\nKhoemacau stream rate increased to 100% of payable silver\n\n\nAchieved full repayment of advance stream deposit at Mount Milligan in British Columbia\n\n\nAdded to S&P High Yield Dividend Aristocrats Index\n\n\nIssued inaugural ESG Report\n\n\nFourth Quarter 2022 Highlights:\n\n\nIncreased dividend for the 22nd consecutive year to $1.50 per share, a 7% increase over the prior year\n\n\nUpdated Mount Milligan life of mine plan extends life to 2033\n\n\nAcquired Idaho Royalty on the Cortez Complex\n\n\nKhoemacau achieved target production rate\n\n\n“Our solid fourth quarter results capped off another very successful year for Royal Gold,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “We manage our business adhering to a long term strategy that considers adding growth by acquiring high quality assets, funding that growth with limited equity dilution, maintaining a strong balance sheet and liquidity, and increasing our capital return...