$RGLD · ROYAL GOLD INC
Royal Gold filed its Q3 FY2026 10-Q. Revenue rose 84.4% YoY to $464.8M, net income attributable to common stockholders was $227.4M, and GAAP EPS was $2.68 versus $1.92 a year ago. Nine-month revenue reached $1.38B versus $655.1M, with operating cash flow of $973.1M. The company repaid $750M of revolver debt, leaving $150M outstanding and $1.25B available.
- Q3 revenue $464.8M, up 84.4% YoY from $252.1M.
- GAAP EPS $2.68 vs $1.92 prior year; nine-month EPS $8.78.
- Net income attributable to common stockholders $227.4M for the quarter.
- Repaid $750M of revolver debt; $150M outstanding, $1.25B available.
- Nine-month operating cash flow $973.1M vs $463.1M prior year.
Extended-hours last trade $251.14, +2.06% vs regular close of $246.08, extending a +6.57% regular-session gain on the day.
The Sandstorm acquisition is delivering a step-change in revenue and cash flow while Royal Gold rapidly deleverages, strengthening its balance sheet for further deals.
Royal Gold's Sandstorm-driven revenue jump mirrors the royalty/streaming sector's consolidation wave, with peers scaling via acquisitions to capture higher gold prices.
Fair value changes in equity securities swung to a $15.7M loss in Q3, and DD&A nearly tripled to $82.0M, pressuring margins as the acquired portfolio amortizes.