Record Earnings for the Quarter
Earnings for the quarter were a record $113 million or $1.72 per share, with adjusted earnings at $100 million or $1.51 per share after discrete tax items.
Strong Revenue Growth
Overall revenue increased by 30% to $193 million, driven by higher metal prices with gold up 38%, silver up 37%, and copper up 11% over the prior year.
Dividend Increase
The first dividend of 2025 was paid at a new quarterly rate of $0.45 per share, representing a 12.5% increase over 2024.
High Adjusted EBITDA Margin
Maintained high margins with an adjusted EBITDA margin of 82% for the quarter.
Significant Liquidity
Ended the quarter with $1.25 billion of total available liquidity, including a fully undrawn $1 billion revolving credit facility.
Royalty Revenue Surge
Royalty revenue was up by about 53% from the prior year quarter to $71 million, contributing 37% of total revenue.