OR Royalties (TSE:OR)
TSX:OR
Earnings Data
Report Date
May 13, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.54Last Year’s EPS
0.22Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial performance with multiple record metrics (revenues, operating cash flow, earnings, high cash margins) and a strengthened balance sheet (debt-free, cash on hand, significant undrawn credit). Management emphasized disciplined capital allocation, accretive early-2026 transactions that add immediate and long-term GEOs, and a confident, funded 5-year growth outlook to 2030. Near-term challenges include grade variability at certain assets (notably Mantos Blancos), slowdowns tied to ownership transitions (CSA), operational bumps at Island Gold in 2025, and timing/risk around ramp-ups for newly acquired or developing assets. While some analysts expected a stronger 2030 number, management identified optional upside that could close that gap. On balance, positives (record financials, strong margins, debt-free balance sheet, accretive M&A and funded growth profile) meaningfully outweigh the near-term operational and timing risks.Company Guidance
Record Financial Results
Record 2025 annual revenues of $277.4 million, record operating cash flow of $246 million, and record net earnings of $1.10 per basic common share (adjusted earnings of $0.88 per share). The company reported its eighth consecutive year of cash flow per share increases.
Very High Cash Margins
Peer-leading cash margins of nearly 97% in 2025, supporting strong profitability and free-cash generation.
Solid Production within Guidance
OR Royalties earned 21,735 GEOs in Q4 2025 and 80,775 GEOs for the full year, inside the annual guidance range of 80,000–88,000 GEOs (effectively near the midpoint when normalized to budgeted commodity ratios).
Strong Balance Sheet: Debt-Free and Cash-Rich
Ended 2025 debt-free with $142.1 million in cash on hand and an untapped credit facility of $650 million plus a $200 million accordion, enabling future deployments.
Capital Return and Dividend Track Record
Declared and paid a quarterly dividend of $0.05 (45th consecutive dividend) and returned over $279 million to shareholders to date. Board approved a base quarterly dividend of $0.055 payable April 15, 2026. Company previously increased its dividend by 8% (2024) and 20% (2025) in respective first-quarter recommendations.
Active, Accretive M&A in Early 2026
Completed strategic transactions (Gold Fields royalty portfolio including a 1.5% NSR on San Gabriel and consolidation to a 2% NSR at Namdini) that add immediate GEOs, long reserve life and expected upside; continued disciplined approach to ensure accretive deals.
Portfolio Quality and Diversification
22 producing assets at year-end 2025 (now 23 and soon 24), with ~75% of GEOs from Tier-1 jurisdictions (Canada, U.S., Australia) and 95% of GEOs from precious metals (approx. 65% gold, 31% silver).
2026 Guidance and Multi-Year Growth Outlook
2026 GEO guidance of 80,000–90,000 GEOs at ~97% cash margin. Updated 5-year outlook targets ~50% growth to 2030 versus prior plan; management emphasizes this growth is 'bought and paid for' with zero contingent capital.
High-Potential Asset Upside (Canadian Malartic, Island Gold, Others)
Notable project callbacks: Canadian Malartic expected large production step-ups (Odyssey contribution ramping: ~120k oz in 2026 to ~450k oz in 2028), Island Gold tonnage plan increase of 25% (target 3,000 tpd vs prior 2,400 tpd), and a $32.6 million, 190,700-meter 2026 exploration program at Malartic focused on high-leverage targets under OR's 5% NSR.
Discipline in Capital Allocation
After a capital-preservation approach in 2025 (only $25 million deployed in royalty/stream acquisitions), management retained discipline and selectively deployed capital into accretive assets in early 2026.
TSE:OR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:OR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | C$59.55 | C$57.33 | -3.72% |
Nov 05, 2025 | C$44.02 | C$43.72 | -0.68% |
Aug 05, 2025 | C$40.37 | C$40.62 | +0.62% |
May 07, 2025 | C$32.96 | C$32.83 | -0.39% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does OR Royalties (TSE:OR) report earnings?
OR Royalties (TSE:OR) is schdueled to report earning on May 13, 2026, TBA (Confirmed).
What is OR Royalties (TSE:OR) earnings time?
OR Royalties (TSE:OR) earnings time is at May 13, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:OR EPS forecast?
TSE:OR EPS forecast for the fiscal quarter 2026 (Q1) is 0.54.