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Jun 30, 2025
Osisko Q2 2025 Earnings Report
OR Royalties reported strong Q2 2025 results with robust revenue growth and a significant improvement in net earnings.
Key Takeaways
In Q2 2025, OR Royalties generated $60.4M in revenue and $32.4M in net earnings, reflecting operational strength and increased portfolio contributions from new producing assets.
Revenue rose to $60.4M, driven by increased royalty and stream income.
Net income reached $32.4M, a strong recovery from a loss in the prior year.
Adjusted earnings were $34.1M or $0.18 per share.
Cash margin remained high at 95.8%, highlighting operating efficiency.
Revenue by Segment
Forward Guidance
Management reiterated its full-year GEOs guidance and expects stronger performance in H2 2025, supported by new and expanding portfolio assets.
Positive Outlook
- Reaffirmed full-year GEOs guidance (80,000–88,000)
- First payments received from two new producing assets
- Positive asset developments expected before year-end
- Improved balance sheet with net cash position
- Strong cash flows support financial flexibility for growth
Challenges Ahead
- Slight YoY decline in GEOs earned this quarter
- Cash margin percentage slightly lower than prior year
- Continued FX volatility impacting results
- Exposure to operator execution risk on ramp-ups
- Portfolio sensitivity to commodity prices remains
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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