Royal Gold (NASDAQ: RGLD) reported Q2 EPS of $0.63, $0.05 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $123.6 million versus the consensus estimate of $128.51 million.

Second Quarter Key Metrics Compared to Prior Year Quarter:

• Revenue of $123.6 million, an increase of 26.7%
• Operating cash flow of $78.3 million, an increase of 33.0%
• Volume of 83,500 GEOs1, an increase of 4.9%
• Dividends paid of $17.4 million, an increase of 6.1%
• Repaid $35.0 million on revolving credit facility
• Average price of $1,481 per gold ounce, an increase of 20.8%

“Royal Gold delivered another solid operating quarter. Continuing our disciplined approach to capital allocation, we strengthened the balance sheet further by paying down our credit facility, and we remain well positioned with approximately $1 billion of liquidity available for new business opportunities,” commented Bill Heissenbuttel, President and CEO. “Our strong operating cash flow allowed us to raise our calendar year dividend in November to $1.12 per share, which is the 19th consecutive annual increase since we started paying a dividend in calendar 2000. We are the only member of the VanEck Vectors Gold Miners ETF (the “GDX”) that has raised its dividend every year since the GDX was formed in 2006.”

“With respect to our portfolio,” Mr. Heissenbuttel continued, “we saw positive developments during the quarter with good progress at the Khoemacau project, and solid operating results at both Mount Milligan and Rainy River. We were also pleased to see long term resolutions to some recent issues, with the signing of a new 36-month collective agreement with the Workers’ Union at Andacollo, and a new 30-year agreement to secure sustainable water for the San Juan de Cedros community at Peñasquito. Both operations have returned to normal production levels after these agreements were reached.”

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