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Royal Gold

RGLD · Materials

Last earnings Aug 5, 2026  ·  Next earnings Nov 4, 2026

Key results

Net incomequarter

$132.3 million

(NASDAQ RGLD) (together with its subsidiaries, Royal Gold, the Company, we, us, or our ) reports net income of $132.3 million, or $2.01 per share, for the quarter ended June 30, 2025 ( second quarter ), on revenue of $209.6 million and operating cash flow of $152.8 million.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Revenuequarter

$209.6 million

(NASDAQ RGLD) (together with its subsidiaries, Royal Gold, the Company, we, us, or our ) reports net income of $132.3 million, or $2.01 per share, for the quarter ended June 30, 2025 ( second quarter ), on revenue of $209.6 million and operating cash flow of $152.8 million.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Adjusted net incomequarter

$118.8 million

Adjusted net income 1 was $118.8 million, or $1.81 per share.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

revenue of $209.6 million , operating cash flow of $152.8 million , and earnings of $132.3 million Revenue split 78% gold , 11% silver , 7% copper Sales volume of 63,900 GEOs 2 Adjusted EBITDA margin 1 of 84% Total available liquidity of approximately $1.25 billion Paid quarterly dividend of $0.45 per share

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Centerra remains optimistic that it can extend the current mine life beyond 2036 with the addition of tailings capacity, and increase the annual mill throughput in the range of 10% through ball mill motor 1 Adjusted net income, adjusted net income per share and adjusted EBITDA margin are non-GAAP financial measures.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

net income of $81.2 million, or $1.23 per basic and diluted share, for the three months ended June 30, 2024.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

EPSquarter

$ 2.01

Diluted earnings per share $ 2.01 $ 1.23 $ 3.73 $ 1.95

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

AI analysis

Q2 2025 · reported Aug 6, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Revenue · Q2 2025
$209.6M
EX-99 · Aug 6, 2025
EPS · Q2 2025
$ 2.01
EX-99 · Aug 6, 2025
Net income · Q2 2025
$132.3M
EX-99 · Aug 6, 2025
Adjusted net income · Q2 2025
$118.8M
EX-99 · Aug 6, 2025

Headline figures

MetricQ2 2025Prior qtrYear ago
Net income$132.3 million——
Revenue$209.6 million——
Adjusted net income$118.8 million——
EPS$ 2.01——

EX-99 · Aug 6, 2025

Guidance · company-stated

Direction: Reiterated

Company outlook

“New Gold reported that gold production through the first half of 2025 represented approximately 34% of the midpoint of annual guidance range of 265,000 to 295,000 ounces, and Rainy River is on-track for increased production in the second half of the year.”

Classified from the release's primary full-year outlook statement.

Next earningsNov 4, 2026Verified from the company’s own announcement

Capital allocation

The buyback was expected and was factored into our initial valuation when the royalty was acquired in 2024.

Acceleration Option 1 From the earlier of the achievement by First Quantum of a minimum BB or equivalent senior unsecured debt rating from a rating agency, or a Net Debt TTM EBITDA ratio of 2.25x or less over three consecutive quarters starting from March 31, 2026, it will have a one-year period to exercise the option and deliver gold worth up to $200 million over a 14-month period from the date of option exercise and reduce the stream rates and delivery thresholds by up to 20%.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Royal Gold Reports Record Revenue, Operating Cash Flow and Earnings for the Second Quarter of 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Reiterated

Company outlook: “New Gold reported that gold production through the first half of 2025 represented approximately 34% of the midpoint of annual guidance range of 265,000 to 295,000 ounces, and Rainy River is on-track for increased production in the second half of the year.”

Company outlook — Reiterated (“reaffirmed”)
“As a result of the lower gold grades, Centerra updated 2025 guidance for gold production to 145,000 to 165,000 ounces, from 165,000 to 185,000 ounces previously, and reaffirmed its copper production guidance range of 50 to 60 million pounds.”

Company outlook — Reiterated (“unchanged”)
“On July 24, 2025, Teck reported that the SAG mill successfully restarted in late June and production has now resumed to full rates, and 2025 copper production guidance is unchanged from the previous guidance range of 45,000 to 55,000 tonnes.”

Company outlook — Raised (“increased”)
“New Gold reported that gold production through the first half of 2025 represented approximately 34% of the midpoint of annual guidance range of 265,000 to 295,000 ounces, and Rainy River is on-track for increased production in the second half of the year.”

Company outlook — Reiterated (“maintained”)
“IAMGOLD maintained its gold production guidance at C t Gold of between 360,000 and 400,000 ounces for 2025.”

Company outlook — Lowered (“lower”)
“Ero reported that production in the first half of 2025 was lower than planned, and ongoing investments in mine modernization and mechanization are expected to drive a step-change in mining rates in the second half of 2025, resulting in higher projected production and lower unit costs that align with the long-term outlook for the operation.”

Company outlook — Reiterated (“maintained”)
“B2Gold expects a ramp up to commercial production in the third quarter of 2025, and has maintained 2025 gold production guidance of between 120,000 and 150,000 ounces.”

Classified from the release's primary full-year outlook statement.

Capital allocation

The buyback was expected and was factored into our initial valuation when the royalty was acquired in 2024.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Acceleration Option 1 From the earlier of the achievement by First Quantum of a minimum BB or equivalent senior unsecured debt rating from a rating agency, or a Net Debt TTM EBITDA ratio of 2.25x or less over three consecutive quarters starting from March 31, 2026, it will have a one-year period to exercise the option and deliver gold worth up to $200 million over a 14-month period from the date of option exercise and reduce the stream rates and delivery thresholds by up to 20%.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Acceleration Option 2 If First Quantum achieves either a minimum BBB- or equivalent senior unsecured debt rating from a rating agency, or shows a Net Debt TTM EBITDA ratio of 1.25x or less over four consecutive quarters, and achieves certain operational conditions, it will have a one-year period to exercise the option and deliver gold worth up to $100 million over a 7-month period from the date of option exercise and reduce the stream rates and delivery thresholds by up to a further 10%.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Royal Gold funded the Advance using available cash and a draw of $825 million on its revolving credit facility.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Solaris will direct the proceeds of the Advance towards advancing technical studies, permitting activities, early infrastructure development, the repayment of debt, some district exploration activities and 3 general working capital requirements.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The royalty covers all metals, is perpetual with no buyback rights or caps, and constitutes a real property interest.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Strategy & priorities

Khoemac a u (100% silver stream) On July 22, 2025, MMG Limited ( MMG ) provided an update on the expansion project at the Khoemac a u mine in Botswana.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

After completing the Transactions, Royal Gold s pro-forma portfolio will comprise 393 streams and royalties, largely focused on the Americas, with 80 revenue-producing interests and 47 in development.

SEC original ↗Royal Gold — Earnings release (8-K exhibit)EX-99Aug 6, 2025

As a basis for considering such assumptions, we utilize a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Quoted prices for identical instruments in active markets; 18 ROYAL GOLD, INC.

SEC original ↗Royal Gold — 10-Q Quarterly report10-QAug 6, 2026

Risks & headwinds

Legal Proceedings 32 Item 1A.

SEC original ↗Royal Gold — 10-Q Quarterly report10-QAug 6, 2026

Business Highlights and Uncertainties Bear Creek Convertible Debt Securities On February 26, 2026, we closed the previously announced agreement with Bear Creek Mining Corporation ( Bear Creek ) to restructure equity, debt and other interests in Bear Creek and its assets in return for increased royalty exposure to Bear Creek's Corani project and a new royalty interest over the Mercedes project, cash and shares in Highlander Silver Corp.

SEC original ↗Royal Gold — 10-Q Quarterly report10-QAug 6, 2026

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Rio Tinto (RIO) MaterialsCemex Sab De Cv (CX) MaterialsWheaton Precious Metals (WPM) MaterialsNucor (NUE) MaterialsFranco-Nevada (FNV) MaterialsKinross Gold (KGC) MaterialsBarrick Mining (B) MaterialsCarpenter Technology (CRS) Materials
Documents

Filings

34 documents

Earnings releases

9 documents

Presentations

0 documents

No presentations for Royal Gold are held in this edition of the library.

Transcripts

0 documents

No transcripts for Royal Gold are held in this edition of the library.

Mentioned by

5 companies

Other tracked companies whose held documents mention Royal Gold by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.