Business
Triple Flag Precious Metals Announces Record Q2 2023 Results and Dividend Increase
TORONTO / Aug 08, 2023 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) annou
About this update from Triple Flag Precious Metals Corp.
[{"type":"text","content":"TORONTO / Aug 08, 2023 / Business Wire / Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) announced its results for the second quarter of 2023 and declared an increased dividend of US$0.0525 per common share to be paid on September 15, 2023. All amounts are expressed in US dollars unless otherwise indicated. “I am pleased to announce another quarter of record results for Triple Flag, in which we achieved record GEOs, revenue, adjusted EBITDA, and operating cash flow. The solid performance of our portfolio has provided the basis for us to increase our annualized dividend by 5%, the second consecutive increase since we listed in 2021.” commented Shaun Usmar, CEO. “Looking forward, our deal pipeline remains consistently active with actionable opportunities, and we are especially encouraged by an increasing cadence of new discoveries, reserve replacement and expansion at multiple assets across the portfolio such as Northparkes and Beta Hunt, and a number of important catalysts and operational milestones achieved within our portfolio as detailed below.” Q2 2023 Financial Highlights Q2 2023 Q2 2022 Revenue $52.6 million $36.5 million Gold Equivalent Ounces (“GEOs”)1 26,616 19,507 Operating Cash Flow3 $40.9 million $29.9 million Net Earnings $16.0 million ($0.08/share) $10.9 million ($0.07/share) Adjusted Net Earnings2 $17.7 million ($0.09/share) $14.9 million ($0.10/share) Adjusted EBITDA4 $41.6 million $28.1 million Asset Margin5 91% 90% GEOs Sold by Commodity, Revenue by Commodity, and Financial Highlights Summary Table Three Months Ended June 30 ($ thousands except GEOs, Asset Margin and per share numbers) 2023 2022 GEOs1 Gold 17,134 11,446 Silver 8,215 6,717 Other 1,267 1,344 Total 26,616 19,507 Revenue Gold 33,856 21,412 Silver 16,232 12,564 Other 2,503 2,514 Total 52,591 36,490 Net Earnings 16,034 10,922 Net Earnings per Share 0.08 0.07 Adjusted Net Earnings2 17,660 14,854 Adjusted Net Earnings per Share2 0.09 0.10 Operating Cash Flow3 40,875 29,940 Operating Cash Flow per Share 0.20 0.19 Adjusted EBITDA4 41,630 28,144 Asset Margin5 91% 90% Corporate Updates 2023 Guidance: Our guidance for 2023 was introduced on February 21, 2023 and remains unchanged. Dividend: Triple Flag’s Board of Directors declared a quarterly d...