We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Royal Gold (RGLD) Q4 Earnings Top Estimates, Revenues Dip Y/Y
Read MoreHide Full Article
Royal Gold, Inc. (RGLD - Free Report) reported adjusted earnings per share (EPS) of 95 cents in the fourth quarter of 2023, beating the Zacks Consensus Estimate of 75 cents. The bottom line increased 5% year over year due to lower revenues and higher interest expenses.
Including one-time items, the company reported an EPS of 95 cents compared with the prior-year quarter’s 86 cents.
RGLD generated revenues of $153 million, down 6.3% year over year. The downside resulted primarily from lower gold and copper sales at Mount Milligan, lower gold and silver sales at Pueblo Viejo, and lower royalty revenues at Peñasquito.
However, these factors were partly offset by an increase in sales from Andacollo, higher revenues from Cortez, and higher metal prices than the prior-year quarter.
Stream revenues were $98 million in the December-end quarter, down year over year from $109 million. The royalty revenues were $54 million, flat year over year.
Royal Gold, Inc. Price, Consensus and EPS Surprise
The company’s cost of sales was $21 million in the fourth quarter, down 16.9% year over year. General and administrative expenses amounted to around $10 million, up 10.2% year over year. The adjusted EBITDA was $122 million in the reported quarter, down 5% year over year. The adjusted EBITDA margin came in at 79.9% compared with the prior-year quarter’s 78.7%.
Financial Position
Net cash from operating activities was $101 million in the fourth quarter, flat year over year. Royal Gold ended the quarter with cash and cash equivalents of $104 million compared with $119 million at the end of 2022.
2023 Performance
The company delivered adjusted earnings per share of $3.53 in 2023, beating the Zacks Consensus Estimate of $3.34. The bottom line increased 3% from the 2022 level.
Including one-time items, the company reported an EPS of $3.63, flat year over year.
It generated revenues of around $606 million, up 0.4% year over year. The top line surpassed the Zacks Consensus Estimate of $585 million.
Stream revenues were $418 million in 2023, flat with the 2022 level. Royalty revenues were $187 million in 2023, up from $185 million in 2022.
Outlook
The company projects stream segment sales of 47,000-52,000 GEOs for the March-end quarter of 2024.
Price Performance
In the past year, shares of Royal Gold have lost 9.7% against the industry’s growth of 0.6%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Royal Gold currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $3.96 per share. The consensus estimate for 2024 earnings has moved 11% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.3%. CRS shares have gained 29.8% in a year.
The Zacks Consensus Estimate for Ecolab’s 2024 earnings is pegged at $6.39 per share, indicating an increase of 22.7% from the prior year’s reported number. It has an average trailing four-quarter earnings surprise of 1.7%. ECL shares have gained 34.3% in a year.
Alpha Metallurgical Resources has an average trailing four-quarter earnings surprise of 9.6%. The Zacks Consensus Estimate for AMR’s 2024 earnings is pegged at $43.05 per share. Earnings estimates have moved 48% north in the past 60 days. AMR shares rallied 132% last year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Royal Gold (RGLD) Q4 Earnings Top Estimates, Revenues Dip Y/Y
Royal Gold, Inc. (RGLD - Free Report) reported adjusted earnings per share (EPS) of 95 cents in the fourth quarter of 2023, beating the Zacks Consensus Estimate of 75 cents. The bottom line increased 5% year over year due to lower revenues and higher interest expenses.
Including one-time items, the company reported an EPS of 95 cents compared with the prior-year quarter’s 86 cents.
RGLD generated revenues of $153 million, down 6.3% year over year. The downside resulted primarily from lower gold and copper sales at Mount Milligan, lower gold and silver sales at Pueblo Viejo, and lower royalty revenues at Peñasquito.
However, these factors were partly offset by an increase in sales from Andacollo, higher revenues from Cortez, and higher metal prices than the prior-year quarter.
Stream revenues were $98 million in the December-end quarter, down year over year from $109 million. The royalty revenues were $54 million, flat year over year.
Royal Gold, Inc. Price, Consensus and EPS Surprise
Royal Gold, Inc. price-consensus-eps-surprise-chart | Royal Gold, Inc. Quote
The company’s cost of sales was $21 million in the fourth quarter, down 16.9% year over year. General and administrative expenses amounted to around $10 million, up 10.2% year over year. The adjusted EBITDA was $122 million in the reported quarter, down 5% year over year. The adjusted EBITDA margin came in at 79.9% compared with the prior-year quarter’s 78.7%.
Financial Position
Net cash from operating activities was $101 million in the fourth quarter, flat year over year. Royal Gold ended the quarter with cash and cash equivalents of $104 million compared with $119 million at the end of 2022.
2023 Performance
The company delivered adjusted earnings per share of $3.53 in 2023, beating the Zacks Consensus Estimate of $3.34. The bottom line increased 3% from the 2022 level.
Including one-time items, the company reported an EPS of $3.63, flat year over year.
It generated revenues of around $606 million, up 0.4% year over year. The top line surpassed the Zacks Consensus Estimate of $585 million.
Stream revenues were $418 million in 2023, flat with the 2022 level. Royalty revenues were $187 million in 2023, up from $185 million in 2022.
Outlook
The company projects stream segment sales of 47,000-52,000 GEOs for the March-end quarter of 2024.
Price Performance
In the past year, shares of Royal Gold have lost 9.7% against the industry’s growth of 0.6%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Royal Gold currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation (CRS - Free Report) , Ecolab Inc. (ECL - Free Report) and Alpha Metallurgical Resources, Inc. (AMR - Free Report) . These three companies currently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Carpenter Technology’s 2024 earnings is pegged at $3.96 per share. The consensus estimate for 2024 earnings has moved 11% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 14.3%. CRS shares have gained 29.8% in a year.
The Zacks Consensus Estimate for Ecolab’s 2024 earnings is pegged at $6.39 per share, indicating an increase of 22.7% from the prior year’s reported number. It has an average trailing four-quarter earnings surprise of 1.7%. ECL shares have gained 34.3% in a year.
Alpha Metallurgical Resources has an average trailing four-quarter earnings surprise of 9.6%. The Zacks Consensus Estimate for AMR’s 2024 earnings is pegged at $43.05 per share. Earnings estimates have moved 48% north in the past 60 days. AMR shares rallied 132% last year.