OR Royalties management commentary attributes Q3 2026 net earnings decline to lower investment gains
OR•OR Royalties reported Q3 2026 net earnings of USD 55.4 million, down chiefly because of an investment gain in the prior-year period. Revenue rose to USD 90.2 million from USD 71.6 million, while adjusted earnings increased to USD 53.9 million.
1. Earnings and revenue
OR Royalties attributed its Q3 2026 net earnings decline to USD 55.4 million chiefly to an investment gain in the prior-year period. Revenue increased to USD 90.2 million from USD 71.6 million, mainly driven by higher metal prices.
2. Operations and cash flow
Lower Canadian Malartic deliveries following Barnat wall movement were partly offset by increased royalty payments, including Namdini and Dalgaranga. Adjusted earnings rose to USD 53.9 million from USD 42.3 million as higher gross profit outweighed increased financing costs and taxes. Operating cash flow increased to USD 77.6 million from USD 64.6 million, as higher revenue outweighed increased tax and interest payments.
