Business
Royal Gold Reports Strong Start to 2026 with Record Revenue, Operating Cash Flow and Earnings for the First Quarter, and Adds Capital Allocation Tools to Provide Future Flexibility
DENVER / May 06, 2026 / Business Wire / Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”)
About this update from Royal Gold, Inc.
[{"type":"text","content":"DENVER / May 06, 2026 / Business Wire / Royal Gold, Inc. (NASDAQ: RGLD) (together with its subsidiaries, “Royal Gold,” the “Company,” “we,” “us,” or “our”) released financial results for the quarter ended March 31, 2026 (\"first quarter\"). “The record first quarter results reflect the transformative activities we undertook in 2025,” commented Bill Heissenbuttel, President and CEO of Royal Gold. “We added significant scale and growth potential to our portfolio and the contributions from the new interests combined with our legacy portfolio and strong metal prices drove substantial increases in revenue, cash flow and earnings.\" \"We have a long record of successful capital allocation and growing per share value,\" continued Mr. Heissenbuttel, \"and we have added two new tools that provide flexibility to add further value in the future depending on market conditions. As described in more detail below, we have reestablished our accordion feature under the $1.4 billion revolving credit facility, which positions us with ready access to capital to compete for the largest transactions. At the same time, our Board has approved a share repurchase program, which provides the ability to act opportunistically when the market does not appear to be reflecting the value and outlook for Royal Gold.” First Quarter Highlights Financial/Operating Record revenue of $469.1 million (compared to $193.4 million in the prior year period) Revenue split by commodity: 71% gold, 16% silver, 10% copper Record operating cash flow of $293.6 million (compared to $136.4 million in the prior year period) Record net income of $281.1 million ($3.30 per share), and adjusted net income1 of $232.9 million ($2.72 per share) (compared to $113.5 million and $99.8 million, respectively, in the prior year period) Sales volume of 96,300 GEOs2 (compared to 67,600 in the prior year period) Adjusted EBITDA margin1 of 83% (compared to 82% in the prior year period) 1 Adjusted 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 reconciliations to the most directly comparable GAAP measures. 2 See Schedule A of this press release for additional information about gold equivalent ounces, or GEOs. Corporate Repaid $300 million on the revolving credit facility, i...