Press release
Royal Gold Reports Record Earnings for the First Quarter and a Strong Start to 2025
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 $113.5 million, or $1.72 per share, for the quarter ended March 31, 2025, (\"first quarter\") on revenue of $193.4 million and operating cash flow of $136.4 million. Adjusted net income1 was $99.8 million, or $1.51 per share.\n\nFirst Quarter 2025 Highlights:\n\n\nRecord earnings of $113.5 million on revenue of $193.4 million, and operating cash flow of $136.4 million\n\n\nRevenue split: 75% gold, 12% silver, 9% copper\n\n\nSales volume of 67,600 GEOs2\n\n\nSustained high adjusted EBITDA margin1 of 82%\n\n\nTotal available liquidity increased to $1.25 billion\n\n\nPaid quarterly dividend of $0.45 per share, a 12.5% increase over the prior year period\n\n\nEntered into additional Xavantina gold stream agreement\n\n\nAchieved full repayment of Rainy River advance stream deposit\n\n\n“Our first quarter results were strong and provided an excellent start to 2025,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “Underlying performance from our portfolio interests was in line with our expectations for relatively soft production, but this was more than offset by a very strong and steadily-rising gold price through the first quarter. Although the outlook for economic conditions remains uncertain with generally elevated volatility in the markets, our diversified portfolio, strong balance sheet and ample liquidity provide a stable foundation for us to continue delivering solid results for shareholders.\"\n\n\n\n1\n\n\n\nAdjusted net income, adjusted net income per share and adjusted EBITDA margin are non-GAAP financial measures. See Schedule A of this press release for additional information, including a detailed description of adjustments to net income.\n\n\n\n\n\n2\n\n\n\nSee Schedule A of this press release for additional information about gold equivalent ounces, or GEOs.\n\n\n\n\nRecent Portfolio Developments\n\nPrincipal Property Updates\n\nNotable recent updates as reported by the operators of our Principal Properties include:\n\n2025 Production Guidance Confirmed and Mine Extension Project Continues at Mount Milligan\n\nOn May 6, 2025, Centerra Gold Inc. (\"Centerra\") reported that the site-wide optimization program continues to progress and it is main...