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Mar 31, 2023
Royal Gold Q1 2023 Earnings Report
Royal Gold had a strong start to 2023, driven by solid first quarter revenue, operating cash flow and earnings.
Key Takeaways
Royal Gold reported a net income of $63.9 million, or $0.97 per share, for the quarter ended March 31, 2023, on revenue of $170.4 million and operating cash flow of $108.7 million. The company repaid $75 million of its outstanding revolving credit facility balance, enhancing its strong liquidity position.
Revenue of $170.4 million and operating cash flow of $108.7 million, up 5% and 7% compared to the prior year period.
Revenue split: 71% gold, 14% copper, 12% silver.
Production volume of 90,200 GEOs, 4% higher than the prior year period.
Repaid $75 million of debt, reducing total debt to $500 million and increasing total available liquidity to $634 million.
Forward Guidance
Royal Gold issued 2023 guidance for sales of 320,000 to 345,000 GEOs, depreciation, depletion and amortization expense of $490 to $540 per GEO, and an effective tax rate of 17 to 22%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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