Royal Gold, Inc. (NASDAQ:RGLD) Q1 2022 Earnings Conference Call May 5, 2022 12:00 PM ET

Company Participants

Alistair Baker - Vice President-Investor Relation & Business Development

Bill Heissenbuttel - President & Chief Executive Officer

Mark Isto - Executive Vice President & Chief Operating Officer

Paul Libner - Chief Financial Officer & Treasurer

Conference Call Participants

Brian MacArthur - Raymond James

Josh Wolfson - RBC

Operator

Hello and welcome to today's Royal Gold Inc. Calendar Year 2022 First Quarter Conference Call. My name is Bailey and I will be your moderator for today's call. [Operator Instructions]. I would now like to pass the conference over to Alistair Baker. Please go ahead.

Alistair Baker

Thank you, operator. Good morning and welcome to our discussion of Royal Gold's First Quarter 2022 Results. This event is being webcast live and you will be able to access a replay of this call on our website. Speaking on the call today are; Bill Heissenbuttel President and CEO; Paul Libner CFO and Treasurer; Mark Isto Executive Vice President and COO of Royal Gold Corporation. Dan Breeze, President of Corporate Development of RGAG; and Randy Shefman, General Counsel are also available for questions.

During today's call we will make forward-looking statements including statements about our projections and expectations for the future. These statements are subject to risks and uncertainties that could cause actual results to differ materially from these statements. These risks and uncertainties are discussed in yesterday's press release and our filings with the SEC.

We will also refer to certain non-GAAP financial measures including adjusted net income adjusted net income per share and adjusted EBITDA margin. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are available in yesterday's press release which can be found on our website. Bill will give you an overview of the quarter, followed by Mark with an operating update, Paul will then provide a financial update and Bill will wrap up the call with some closing comments. We'll then open the lines for a Q&A session.

I'll now turn the call over to Bill.

Bill Heissenbuttel

Good morning and thank you for joining the call. Our call today will be relatively short as we provided an in-depth review of our business two weeks ago, during our Annual Investor Update. For those who are unable to join the event, it is available for replay on our website.

Turning to the results for the quarter. I'll begin on Slide Four. It was another good quarter with very solid operating and financial results. We recorded healthy revenue of $162 million operating cash flow of $101 million and earnings of $66 million which were all up significantly over the prior year period. It is worth noting that our margins remain strong and our adjusted EBITDA margin for the quarter was 81% which is consistent with the 80% we saw for the same quarter a year ago.