The preliminary numbers suggest strong operational performance, but final results on August 5 are the key catalyst. Monitor for full financials, including EPS and cash flow, to assess the impact of project investments and debt paydown.
Price Chart
Executive Summary
Royal Gold issued a preliminary second-quarter 2026 earnings update, reporting stream segment sales of $311.0 million and estimated royalty segment sales of $137-142 million. The company also disclosed $200 million in debt repayment, $30 million in share repurchases, and $120 million in project-related cash outflows (Hod Maden $70M, Warintza $50M). The filing is a preliminary estimate; final results are due August 5, 2026.
Key Facts
- Stream segment sales: $311.0M (69,000 GEOs at $4,506/oz gold)
- Royalty segment sales estimated at $137-142M
- DDA estimated at $95-99M
- Repaid $200M of debt, leaving $400M drawn on $1.4B revolver
- Repurchased 147,205 shares for $30M at avg $203.80/share
- Funded $70M in Hod Maden project costs
- Made $50M advance payment to Solaris Resources for Warintza
- Settled Relief Canyon gold delivery obligations, receiving 5,000 oz gold and 2.65M shares of Americas Gold & Silver
- Preliminary estimates subject to change; final results on August 5, 2026
Financial Impact
Preliminary revenue estimate of ~$448-453M (stream + royalty midpoint) vs consensus $452.8M; no EPS provided
Risk Factors
- Preliminary estimates may differ materially from final results
- Significant cash outflows for Hod Maden ($70M) and Warintza ($50M) could pressure free cash flow
- Relief Canyon settlement may have one-time earnings implications
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000085535-26-000032 |
| Document: 0000085535-26-000032-index-headers.html | 0000085535-26-000032 |
| Document: 0000085535-26-000032-index.html | 0000085535-26-000032 |
| Document: 0000085535-26-000032.txt | 0000085535-26-000032 |
| 8-K Data (Synthetic) | 0000085535-26-000032 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | 8-K | $218.11 $264.85 | ▲ +21.43% | ▲ +20.83% | $234.64 (+7.58%) |
Jul 21, 2026 10w ago | 8-K | $194.01 $230.43 | ▲ +18.77% | ▲ +16.21% | $234.64 (+20.94%) |
May 6, 2026 21w ago | 8-K | $232.55 $216.79 | ▼ −6.78% | ▼ −9.91% | $234.64 (+0.90%) |
Apr 3, 2026 26w ago | DEFA14A | $260.58 $227.58 | ▼ −12.66% | ▼ −21.65% | $234.64 (−9.95%) |
Feb 28, 2026 30w ago | Institutional Cluster | $304.09 $238.75 | ▼ −21.49% | ▼ −13.55% | $234.64 (−22.84%) |
US Market Status
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