Royal Gold Posts Record $344M Operating Cash Flow, Repays All Debt
RGLD sits 46% above its 52-week low of $168.88.
Summary
Royal Gold delivered Q3 revenue of $464.8 million, up 84% from $252.1 million a year ago, with net income of $227.4 million ($2.68 per share) versus $126.8 million and adjusted EPS of $2.80. Operating cash flow hit a record $344.4 million and sales volume set a record at 109,000 GEOs, up 50%. The balance sheet is the real story: after closing the Sandstorm/Horizon deal with $1.225 billion of debt and a two-year repayment plan, the company cleared the remaining $150 million revolver balance on October 19, leaving the full $1.4 billion facility undrawn and roughly $1.48 billion of liquidity. Management also raised other-metals sales guidance to $53-56 million and expects silver and copper at or above the top of their ranges, while gold stays within the original 290,000-320,000 ounce range. Q3 buybacks totaled 190,045 shares for $49 million at an average $259.83, part of the $500 million program authorized in May. The Q3 call is November 5 at 12:00 pm ET.
At the time of this announcement, RGLD was trading at $246.08 on NASDAQ in the Finance sector, with a market capitalization of approximately $20.8B. The 52-week trading range was $168.88 to $306.25. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.