Press release
Royal Gold Reports Fourth Quarter and Fiscal Year 2020 Results
Key Fiscal 2020 Highlights: Exceptional financial performance with new records for revenue of $498.8 million, operating cash flow of $340.8 million and
About this update from Royal Gold, Inc.
[{"type":"text","content":"\nKey Fiscal 2020 Highlights:\n\n\n\nExceptional financial performance with new records for revenue of $498.8 million, operating cash flow of $340.8 million and earnings of $199.3 million\n\n\nVolume of 320,000 GEOs2 \n\n\nTransitioned to new leadership\n\n\nFunded growth with $135.7 million of advance payments towards Khoemacau silver stream and reduced net debt1 by $115 million, from free cash flow1 with no new shares issued\n\n\nIncreased per share dividend for the 19th consecutive year and paid total dividends of $71.5 million\n\n\n\nFourth Quarter Key Metrics Compared to Prior Year Quarter:\n\n\n\nRevenue of $120.0 million, an increase of 3.7%\n\n\nOperating cash flow of $91.6 million, an increase of 26.7%\n\n\nVolume of 70,100 GEOs2, a decrease of 20.7%\n\n\nDividends paid of $18.4 million, an increase of 5.7%\n\n\nAverage price of $1,711 per gold ounce, an increase of 30.7% \n\n\n\n \n\n DENVER--(BUSINESS WIRE)--\nRoyal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) reports fiscal year 2020 (“fiscal 2020”) net income of $199.3 million, or $3.03 per share, on record revenue of $498.8 million and operating cash flow of $340.8 million. Adjusted net income1 was $162.4 million, or $2.47 per share, after excluding a gain on changes in the fair value of equity securities of $0.02 per share, a one-time non-cash employee stock compensation expense item of $0.05 per share, a non-cash impairment charge of $0.02 per share for the write-down of a royalty interest, and a tax benefit of $0.61 per share due to the combination of Swiss tax reform and the release of an uncertain tax liability.\n\n\n“Fiscal 2020 was a standout year for Royal Gold, and our portfolio delivered record revenue of approximately $500 million, 79% of which came from gold,” commented Bill Heissenbuttel, President and CEO. “We successfully transitioned to a new generation of leadership in the company, and despite unprecedented challenges caused by an uncertain external environment, I am pleased with how we maintained our strategic focus on strengthening the balance sheet, growing our dividend, and funding future growth through cash flow. We reduced our net debt by $115 million, paid $71.5 million in dividends, and funded $135.7 million in advance payments towards our silver stream at Khoemacau, which we expec...