Canada · Delayed Price · Currency is CAD OR Royalties Earnings Call Transcripts
Fiscal Year 2025
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Record 2025 results with $277.4M revenue, $1.10 EPS, and 97% cash margins. Debt-free with strong cash, disciplined capital allocation, and 50% GEO growth targeted by 2030, all fully funded. New assets and expansions drive future growth.
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Management outlined a fully funded 40% five-year growth plan, highlighted a strong balance sheet with no debt, and emphasized disciplined investment and risk management. Key assets like Canadian Malartic, Mantos Blancos, and Dalgaranga underpin future growth, while ESG and jurisdictional quality remain central.
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Q3 2025 saw record revenues and cash flows, a debt-free balance sheet, and strong GEOs earned, driven by higher gold prices and asset performance. The company is on track for its 2025 guidance, with disciplined capital allocation and significant growth expected from Dalgaranga, Mantos Blancos, and Namdini.
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Q2 2025 saw record cash flows, higher revenues, and a return to net cash, with strong performance from Canadian Malartic and ongoing ramp-ups at key assets. The company remains on track for full-year GEO guidance and maintains a robust balance sheet, focusing on disciplined capital allocation.
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Strong Q1 2025 results featured higher revenues, robust cash flows, and a 97.1% cash margin, with gold-equivalent ounce deliveries on track for full-year guidance. Dividend increased 20% and the company is rebranding as OR Royalties, reflecting its growth and independence.
Fiscal Year 2024
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Record 2024 revenues and cash margins were achieved, with GEO deliveries above guidance and strong balance sheet improvements. 2025 guidance anticipates moderate growth, back-half weighted, and continued focus on disciplined capital allocation, dividends, and high-quality asset acquisitions.
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Q3 2024 saw strong cash flows, high margins, and continued debt reduction, with Osisko on track to meet revised GEO guidance despite the Eagle Mine loss. New deals, asset additions, and a robust pipeline position the company for growth into 2025.
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Q2 2024 saw strong revenues, high cash margins, and significant debt reduction, but a non-cash impairment on the Eagle NSR royalty led to a net loss. 2024 GEO guidance was lowered due to Eagle's suspension, while the pipeline remains robust and financial flexibility has improved.