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Royal Gold (RGLD) investor relations material
Royal Gold Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue rose 84% YoY to $464.8M, with record sales of 109,000 GEOs and record operating cash flow of $344.4M.
Net income attributable to common stockholders was $227.4M, or $2.68/share; adjusted net income was $238.3M, or $2.80/share.
Strong cash generation supported debt repayment, shareholder returns and portfolio investment; the $1.4B revolver was fully repaid after quarter-end.
Financial highlights
Q3 stream revenue was $318.3M and royalty revenue was $146.4M; total revenue was $464.8M.
Operating income was $303.7M vs. $162.3M YoY; net income attributable to stockholders was $227.4M vs. $126.8M.
Operating cash flow reached $344.4M vs. $174.0M; nine-month operating cash flow was $973.1M vs. $463.1M.
G&A was $13.2M, DD&A $82.0M and interest and other expense $5.1M; higher DD&A largely reflected acquired streams and assets.
Adjusted net income excludes a $15.7M equity-securities fair-value loss, a $0.8M gain on marketable securities sales and a $4.0M tax effect of adjustments.
Outlook and guidance
2026 gold sales guidance remains 290,000–320,000 oz; 224,265 oz were sold through September.
Silver guidance remains 3.0–3.5M oz; copper guidance was revised to 22–25M lb from 21–25M lb, with sales expected at or above the range’s top end.
Other-metals sales guidance rose to $53–56M from $34–38M; $44M was sold through September.
DD&A guidance remains $339–379M and effective tax-rate guidance 17–22%; YTD rate excluding discrete items was 20.1%.
- A high-margin gold-led portfolio pairs acquisition scale with long-term organic growth.RGLD
Investor presentation - Acquisitions expanded the portfolio; cash generation and pipeline growth underpin a potential re-rating.RGLD
Renmark Financial Communications Virtual Non-Deal Roadshow Series - Gold-led royalty growth pairs an 83% TTM EBITDA margin with a deep development pipeline.RGLD
Investor presentation - Acquisitions lengthened reserve life as diversified assets underpin the growth outlook.RGLD
John Tumazos Very Independent Research Virtual Conference - A high-margin, gold-led royalty portfolio targets sustained growth from acquisitions and mine development.RGLD
Investor presentation - Diversified portfolio, extended asset life, and robust growth pipeline drive future value.RGLD
Mining Forum Americas 2026 - Gold-focused, diversified portfolio delivers high margins, strong growth, and sustainable returns.RGLD
Investor presentation - Portfolio diversification, growth assets, and creative deal-making drive long-term value.RGLD
Jefferies Global Industrials Conference 2026 - Record revenue and cash flow driven by higher metal prices, new assets, and portfolio growth.RGLD
Q2 2026
Next Royal Gold earnings date
Next Royal Gold earnings date
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