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Royal Gold (RGLD) Earnings Beat Estimates in Q2, Rise Y/Y
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Royal Gold, Inc. (RGLD - Free Report) reported adjusted earnings per share (EPS) of $1.25 in second-quarter 2024, beating the Zacks Consensus Estimate of $1.17. The bottom line increased 42% year over year.
Including one-time items, the company reported an EPS of $1.23 compared with the prior-year quarter’s 97 cents.
Royal Gold, Inc. Price, Consensus and EPS Surprise
RGLD generated revenues of $174 million, up 20.8% year over year. The upside resulted primarily from higher metal prices and copper sales at Mount Milligan. Increased gold and silver production at Peñasquito also drove the results. However, the gains were partially offset by lower gold and silver sales at Pueblo Viejo.
Stream revenues were $123 million and royalty revenues were $51 million in the June-end quarter. Stream revenues increased 15.9% year over year, whereas royalty revenues improved 34.5%.
The company’s cost of sales was $24 million in the second quarter compared with the prior-year quarter’s $23 million.
General and administrative expenses amounted to $10.5 million, up 16% year over year. The adjusted EBITDA was $141 million in the reported quarter, up 23.1% year over year. The adjusted EBITDA margin came in at 81% compared with the prior-year quarter’s 80%.
Financial Position
Net cash from operating activities was $113.5 million in the second quarter compared with the prior-year quarter’s $108 million. Royal Gold ended the quarter with cash and cash equivalents of around $74 million compared with $104 million at the end of 2023.
Price Performance
In the past year, RGLD shares have gained 16.2% compared with the industry’s growth of 24.9%.
Agnico Eagle Mines Limited (AEM - Free Report) reported adjusted earnings of $1.07 per share in the second quarter of 2024, up from 65 cents in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of 93 cents.
The company generated revenues of $2.08 billion, up nearly 21% year over year. The top line surpassed the Zacks Consensus Estimate of $1.72 billion.
Galiano Gold Inc. (GAU - Free Report) reported adjusted earnings of 3 cents per share in second-quarter 2024, beating the Zacks Consensus Estimate of break-even results. It reported adjusted earnings of 5 cents in the year-ago quarter.
Galiano Gold generated revenues of $63 million in the quarter.
Kinross Gold Corporation (KGC - Free Report) reported adjusted earnings of 14 cents per share, in line with the prior-year quarter. The bottom line beat the Zacks Consensus Estimate of 13 cents.
Revenues rose nearly 12% year over year to $1.22 billion in the second quarter. It topped the Zacks Consensus Estimate of $1.02 billion.
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Royal Gold (RGLD) Earnings Beat Estimates in Q2, Rise Y/Y
Royal Gold, Inc. (RGLD - Free Report) reported adjusted earnings per share (EPS) of $1.25 in second-quarter 2024, beating the Zacks Consensus Estimate of $1.17. The bottom line increased 42% year over year.
Including one-time items, the company reported an EPS of $1.23 compared with the prior-year quarter’s 97 cents.
Royal Gold, Inc. Price, Consensus and EPS Surprise
Royal Gold, Inc. price-consensus-eps-surprise-chart | Royal Gold, Inc. Quote
RGLD generated revenues of $174 million, up 20.8% year over year. The upside resulted primarily from higher metal prices and copper sales at Mount Milligan. Increased gold and silver production at Peñasquito also drove the results. However, the gains were partially offset by lower gold and silver sales at Pueblo Viejo.
Stream revenues were $123 million and royalty revenues were $51 million in the June-end quarter. Stream revenues increased 15.9% year over year, whereas royalty revenues improved 34.5%.
The company’s cost of sales was $24 million in the second quarter compared with the prior-year quarter’s $23 million.
General and administrative expenses amounted to $10.5 million, up 16% year over year. The adjusted EBITDA was $141 million in the reported quarter, up 23.1% year over year. The adjusted EBITDA margin came in at 81% compared with the prior-year quarter’s 80%.
Financial Position
Net cash from operating activities was $113.5 million in the second quarter compared with the prior-year quarter’s $108 million. Royal Gold ended the quarter with cash and cash equivalents of around $74 million compared with $104 million at the end of 2023.
Price Performance
In the past year, RGLD shares have gained 16.2% compared with the industry’s growth of 24.9%.
Image Source: Zacks Investment Research
Zacks Rank
Royal Gold currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Performances
Agnico Eagle Mines Limited (AEM - Free Report) reported adjusted earnings of $1.07 per share in the second quarter of 2024, up from 65 cents in the year-ago quarter. The bottom line topped the Zacks Consensus Estimate of 93 cents.
The company generated revenues of $2.08 billion, up nearly 21% year over year. The top line surpassed the Zacks Consensus Estimate of $1.72 billion.
Galiano Gold Inc. (GAU - Free Report) reported adjusted earnings of 3 cents per share in second-quarter 2024, beating the Zacks Consensus Estimate of break-even results. It reported adjusted earnings of 5 cents in the year-ago quarter.
Galiano Gold generated revenues of $63 million in the quarter.
Kinross Gold Corporation (KGC - Free Report) reported adjusted earnings of 14 cents per share, in line with the prior-year quarter. The bottom line beat the Zacks Consensus Estimate of 13 cents.
Revenues rose nearly 12% year over year to $1.22 billion in the second quarter. It topped the Zacks Consensus Estimate of $1.02 billion.