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Dec 31, 2023
Royal Gold Q4 2023 Earnings Report
Royal Gold finished 2023 with strong Q4 financial results, taking advantage of strong cash flow to repay debt and increase liquidity, and raising its dividend for the 23rd consecutive year.
Key Takeaways
Royal Gold reported a solid fourth quarter with a net income of $62.8 million, or $0.95 per share, on revenue of $152.7 million. The company focused on repaying debt, building liquidity, and increasing shareholder returns, raising its dividend for the 23rd consecutive year.
Increased dividend for the 23rd consecutive year to $1.60 per share for 2024, a 7% increase over 2023
Repaid $75 million of balance outstanding on revolving credit facility
Solid financial results with revenue of $605.7 million, operating cash flow of $415.8 million and earnings of $239.4 million
Sustained high adjusted EBITDA margin of 79%
Forward Guidance
Royal Gold anticipates continued revenue growth from Bellevue and King of the Hills, and expects new revenue from Goldrush, Mara Rosa, Côté Gold and Manh Choh.
Positive Outlook
- Continued revenue growth from Bellevue
- Continued revenue growth from King of the Hills
- New revenue from Goldrush
- New revenue from Mara Rosa
- New revenue from Côté Gold
Historical Earnings Impact
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Avg. Return Before/After Earnings
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