Earnings Releases·Nov 4, 2026, 4:47 PM ET

Royal Gold — Third Quarter 2026 Earnings Summary

Revenue surged 84% year-over-year to $464.8 million, driven by a 50% increase in sales volume to 109,000 GEOs and significant price appreciation across gold, silver, and copper; net income rose to $227.4 million ($2.68/share) with operating cash flow hitting a record $344.4 million.
Full-year 2026 guidance was raised for other metals ($53–$56 million) and confirmed for silver and copper to exceed original ranges, while gold sales guidance remains within the 290,000–320,000 ounce range.
The company fully repaid $1.225 billion in debt incurred from the Sandstorm and Horizon transactions in under one year, leaving $1.4 billion in credit facility capacity undrawn and total liquidity at approximately $1.48 billion.
Capital allocation included a 6% dividend increase to $0.475 per share, $49 million in share repurchases during the quarter, and the initiation of a $50 million advance payment for the Warintza Project.