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Royal Gold Reports Strong Second Quarter Financial Results Including Record Operating Cash Flow, Repurchase of Shares and Further Repayment of Debt

RGLD
  • Royal Gold, Inc. reported second quarter 2026 revenue of $450.5 million, a 114.9% increase from $209.6 million in the prior year period.
  • Record operating cash flow reached $335.2 million, compared to $152.8 million in the prior year.
  • Net income for the quarter was $236.4 million ($2.78 per share), while adjusted net income was $218.2 million ($2.56 per share).
  • Revenue composition for the quarter was 76% gold, 12% silver, and 8% copper.
  • Sales volume increased to 100,000 gold equivalent ounces (GEOs) from 63,900 in the prior year.
  • The company repaid $200 million on its revolving credit facility during the quarter.
  • Total available liquidity increased to approximately $1.2 billion by the end of the quarter.
  • A quarterly dividend of $0.475 per share was paid, representing a 6% increase over the prior year.
  • Royal Gold repurchased 147,205 shares at an average price of $203.80 for a total of $30 million.
  • The company advanced $50 million to Solaris Resources for the Warintza Project following environmental impact assessment approval.
  • Ownership of the Hod Maden Project was restructured, with Royal Gold funding $70 million in project costs.
  • A new $600 million uncommitted accordion feature was added to the $1.4 billion revolving credit facility.
  • Fixed delivery obligations at the Relief Canyon mine were settled, resulting in the sale of 5,000 ounces of gold.
  • Post-quarter, the company repaid an additional $75 million on July 15, 2026, reducing drawn debt to $325 million.
  • 2026 guidance forecasts for sales volumes, depreciation, depletion, amortization, and tax rates remain within previously provided ranges.
  • Copper and other metals sales are trending toward or above the top end of the 2026 guidance ranges.
  • Revenue from North America was $250.4 million, South and Central America was $99.5 million, EMEA was $85.4 million, and Australia Pacific was $15.3 million.
  • Average realized metal prices for the quarter were $4,506 per ounce for gold, $73.15 per ounce for silver, and $6.05 per pound for copper.
  • Production updates were provided for major assets including Mount Milligan, Pueblo Viejo, Andacollo, Antamina, and Fruta del Norte.
  • The Hod Maden Project is approximately 25% complete with initial concentrate production targeted for 2028.
  • Consolidated balance sheets show total assets of $9.45 billion as of June 30, 2026.