---
title: "Royal Gold | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 450.5 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293346899.md"
datetime: "2026-07-21T13:09:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293346899.md)
  - [en](https://longbridge.com/en/news/293346899.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293346899.md)
---

# Royal Gold | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 450.5 M

Revenue: As of FY2026 Q2, the actual value is USD 450.5 M, missing the estimate of USD 452.83 M.

#### Preliminary Second Quarter Estimates (Unaudited)

**Stream Segment Sales** Stream segment sales were $311.0 million for the quarter ended June 30, 2026 . Gold Equivalent Ounces (GEOs) totaled 69,000 . Cost of sales was $871 per GEO . Commodity breakdown of metal units sold included 54,500 oz of Gold, 595,500 oz of Silver, 2.5 Mlb of Copper, and 1.3 Mlb of Zinc . Ending period inventory comprised 27,400 oz of Gold, 371,200 oz of Silver, and 0.7 Mlb of Copper .

**Royalty Segment Sales** Royalty segment sales are estimated to be between $137 million and $142 million .

**Depreciation, Depletion and Amortization (DD&A)** DD&A is estimated to be between $95 million and $99 million . An additional DD&A expense of approximately $12 million was recognized due to the settlement of gold delivery obligations related to the Relief Canyon mine .

#### Notable Second Quarter Financial Items

**Debt Management** 皇家黄金 (Royal Gold, Inc.) repaid $200 million of debt . This repayment resulted in an outstanding balance of $400 million on its revolving credit facility as of June 30, 2026 . The company retained $1.0 billion undrawn and available on the facility .

**Share Repurchase** 皇家黄金 (Royal Gold, Inc.) repurchased 147,205 shares at an average price of $203.80 per share . The total consideration for these repurchases was $30 million . The repurchased shares were subsequently cancelled .

**Project Funding and Settlements** 皇家黄金 (Royal Gold, Inc.) reached an agreement to settle remaining fixed gold delivery obligations for the Relief Canyon mine . This settlement involved the immediate delivery of 5,000 ounces of gold (sold during the second quarter) and 2,652,532 common shares of Americas Gold and Silver Corporation, in exchange for 8,861 ounces of gold previously owed . The company funded $70 million in project costs for the Hod Maden Project . A $50 million advance payment was made to Solaris Resources Inc. for the Warintza Project under a stream agreement .

**Cash Flow** Detailed operating cash flow and free cash flow metrics are not directly provided within the text of this Form 8-K reference .

#### Outlook / Guidance

-   The provided estimates for royalty segment sales and DD&A are preliminary and subject to change . These forward-looking statements are contingent on the completion of 皇家黄金’s (Royal Gold, Inc.’s) normal quarter-end accounting procedures and adjustments, as well as finalization of fair value and other estimates . Readers are cautioned not to place undue reliance on these preliminary figures, as actual results may differ materially .

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