Royal Gold (NASDAQ: RGLD) reported Q1 EPS of $0.60, $0.01 better than the analyst estimate of $0.59. Revenue for the quarter came in at $118.8 million versus the consensus estimate of $126.74 million.

• First quarter net income included discrete income tax benefits of $32.3 million, or $0.49 per share, primarily related to Swiss tax reform, and a loss on changes in fair value of equity securities of $1.4 million, or $0.02 per share net of tax. Net income excluding these items was $39.3 million, or $0.60 per share, net of tax.

First Quarter Key Metrics Compared to Prior Year Quarter:

• Revenue of $118.8 million, an increase of 18.8%
• Operating cash flow of $71.2 million, an increase of 59.6%
• Volume of 80,700 GEOs1, a decrease of 2.1%
• Dividends paid of $17.4 million, an increase of 6.1%
• Repaid $50.0 million on revolving credit facility
• Average price of $1,472 per gold ounce, an increase of 21.4%

“Royal Gold delivered another solid operating quarter. Strong cash flow allowed us to strengthen the balance sheet further and we remain well positioned with approximately $1 billion of liquidity available for new business opportunities,” commented Tony Jensen, President and CEO. “We saw positive developments in our portfolio during the quarter with good progress at the Khoemacau project, and solid operating results at both Mount Milligan and Rainy River. We are pleased to see that Mount Milligan water levels have improved and that the mill is expected to have sufficient water to maintain full production throughout the winter.”

“During the first quarter we also completed our succession planning efforts and appointed a new generation of senior leaders from within the existing ranks of the management team, which is a testament to the depth of expertise within the Company. I am looking forward to this new generation of leaders delivering on the growth and strategic objectives that they helped formulate.”

For earnings history and earnings-related data on Royal Gold (RGLD) click here.