Press release
Royal Gold Reports Strong Revenue, Cash Flow and Earnings for the First 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 $65.7 million, or $1.00 per share, for the quarter ended March 31, 2022, (“first quarter”), on revenue of $162.4 million and operating cash flow of $101.1 million. Adjusted net income1 was $65.2 million, or $0.99 per share.\n\nFirst Quarter 2022 Highlights:\n\n\nStrong financial performance with revenue of $162.4 million, operating cash flow of $101.1 million, and earnings of $65.7 million, higher by 14%, 10% and 22%, respectively, compared to the prior year period\n\n\nRevenue split: 71% gold, 10% silver, 14% copper\n\n\nProduction volume of 86,500 GEOs1, a 9% increase compared to the prior year period\n\n\nStrong balance sheet, ending the period debt free, with cash of $183.7 million and total liquidity of over $1.2 billion\n\n\nMaintained adjusted EBITDA margin1 of 81%, consistent with 80% in the prior year period\n\n\nPaid quarterly dividend of $0.35 per share, a 17% increase over the prior year\n\n\nIncluded as a member of the S&P High Yield Dividend Aristocrats Index\n\n\nKhoemacau stream rate increased to 100% of payable silver\n\n\nPost Quarter Events:\n\n\nIssued inaugural Environmental, Social and Governance report\n\n\n“Royal Gold turned in a strong start to 2022 with revenue, cash flow and earnings up significantly over the same period last year,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “The portfolio continued to perform well and we saw several positive developments at some of our larger portfolio assets, including good progress with the ramp-up at Khoemacau, substantial resource additions and positive news with respect to current stored water and future water access at Mount Milligan, and continued progress with the plant expansion and mine life extension project at Pueblo Viejo.\n\n“In this environment where rising input costs are eroding operator margins, the inflation protection provided by our business model is clear. We maintained strong and consistent margins and further enhanced our financial position during the quarter, and we remain active in reviewing new opportunities to deploy our liquidity and add further growth to the portfolio.\n\n“Finally, we released our inaugural ESG report after quarter end. Sound ESG practices...