Q3 2024 Royal Gold Inc Earnings Call Transcript
Key Points
- Royal Gold Inc (RGLD) reported record revenue of $194 million for the third quarter, marking a 40% increase compared to the same period last year.
- The company achieved a strong operating cash flow of $137 million, up 39% year-over-year.
- Earnings for the quarter were $96 million or $1.46 per share, representing a 95% increase from the previous year.
- Royal Gold Inc (RGLD) is now debt-free, having repaid the final $50 million outstanding on its revolving credit facility, with over $1.1 billion in available liquidity.
- The company recognized first revenue from two new producing assets, contributing to its diversified portfolio and growth prospects.
- Royal Gold Inc (RGLD) faces challenges with the SEC's Regulation SK 1300, which affects the inclusion of some reserves and resources in its filings.
- The company expects silver sales to come in below the low end of its guidance range due to lower sales at certain assets.
- There is potential for a softer fourth quarter due to timing issues with metal deliveries under the streaming segment.
- The company is experiencing lower silver recoveries at Pueblo Viejo, impacting its overall sales performance.
- Political changes in Botswana, where Royal Gold Inc (RGLD) has investments, could pose future risks, although no immediate concerns have been reported.
Hello, everyone, and welcome to Royal Gold's 2024 third-quarter conference call. My name is Emily, and I will be coordinating your call today. (Operator Instructions)
I will now turn the call over to our host, Alistair Baker, Senior Vice President of Investor Relations and Business Development. Please go ahead, Alistair.
Thank you, operator. Good morning, and welcome to our discussion of Royal Gold's third-quarter 2024 results. This event is being webcast live, and a replay of this call will be available on our website.
Speaking on the call today are Bill Heissenbuttel, President and CEO; Paul Libner, Senior Vice President and CFO; and Martin Raffield, Senior Vice President of Operations; Randy Shefman, Senior Vice President and General Counsel; and Dan Breeze, Senior Vice President, Corporate Development of RG AG are also available for questions.
During today's call, we will make forward-looking statements, including statements about our projections and expectations
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