Royal Gold publishes Q3 2026 earnings call transcript
RGLD•Royal Gold reported third-quarter 2026 revenue of $465 million, up 84%, and record operating cash flow of $344 million. It repaid its remaining revolver balance, raised full-year Other Metals sales guidance and said silver and copper sales should reach or exceed the upper ends of their guidance ranges.
1. Quarterly results
Royal Gold's November 5 third-quarter 2026 earnings call featured CEO William H. Heissenbuttel, CFO Paul K. Libner and analysts. Revenue rose 84% to $465 million, while operating cash flow reached a record $344 million.
2. Debt and guidance
The company repaid its remaining revolver balance on October 19, leaving it debt-free, with the full $1.4 billion revolving credit facility available. Management raised full-year Other Metals sales guidance and said silver and copper sales should reach or exceed the upper ends of their guidance ranges.
3. Capital allocation
Heissenbuttel said new business remains the top capital allocation priority. Higher interest rates could favor building cash rather than repurchasing shares.
