Record Revenue and Growth
Royal Gold reported record revenue of $194 million for Q3 2024, a 40% increase over the same period last year. Operating cash flow increased by 39% to $137 million, and earnings rose by 95% to $96 million or $1.46 per share.
Strong Portfolio Contribution
The company's royalty segment contributed $61 million, a 53% increase from the prior year quarter, with significant contributions from new assets like Manh Choh and Cote Gold.
Debt-Free Status
Royal Gold repaid the final $50 million outstanding on its revolving credit facility, rendering the company debt-free with over $1.1 billion in available liquidity.
New Asset Revenue
First revenue recognized from new assets including Bellevue, Mara Rosa, Wonder North, Manh Choh, and Cote Gold, contributing almost $13 million this quarter.
High EBITDA Margin
The company's adjusted EBITDA margin remained strong at 81% for the quarter.