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Mar 31, 2022
Royal Gold Q1 2022 Earnings Report
Royal Gold had a strong start to 2022, with significant increases in revenue, cash flow, and earnings compared to the same period last year.
Key Takeaways
Royal Gold reported a net income of $65.7 million, or $1.00 per share, for the first quarter of 2022, on revenue of $162.4 million and operating cash flow of $101.1 million. The company's portfolio performed well, with positive developments at some of its larger portfolio assets.
Revenue was $162.4 million, up 14% compared to the prior year period.
Operating cash flow was $101.1 million, up 10% compared to the prior year period.
Earnings were $65.7 million, up 22% compared to the prior year period.
Adjusted EBITDA margin was 81%, consistent with 80% in the prior year period.
Forward Guidance
There is no change to previously issued guidance for sales of 315,000 to 340,000 GEOs, depreciation, depletion and amortization expense of $535 to $585 per GEO, and an effective tax rate of 17% to 22% for 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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