OR Royalties Inc. (OR:CA) Q2 2026 Earnings Call Transcript

OR Royalties Inc. ( OR:CA ) Q2 2026 Earnings Call August 6, 2026 10:00 AM EDT

Company Participants

Jason Attew - CEO, President & Director

Frédéric Ruel - CFO & VP of Finance

Guy Desharnais

Brendan Pidcock

Conference Call Participants

Cosmos Chiu - CIBC Capital Markets, Research Division

Tanya Jakusconek - Scotiabank Global Banking and Markets, Research Division

Derick Ma - TD Cowen, Research Division

Presentation Operator

Good morning, ladies and gentlemen, and welcome to the OR Royalties Q2 2026 Results Conference Call. [Operator Instructions] Please note that this call is being recorded today, August 6, 2026, at 10:00 a.m. Eastern Time. I would now like to turn the meeting over to our host for today's call, Mr. Jason Attew.

Jason Attew CEO, President & Director

Good morning, everybody, and thank you for joining us on a busy earnings day. Please note that the news release and regulatory filings are available on our website and on EDGAR and SEDAR+. If you are logging into the webcast, we will advance the slides for today's presentation, which is also available in the Investors section of our website. Please also note there are forward-looking statements in this presentation from which actual results may differ and that all amounts presented and discussed will be in U.S. dollars unless otherwise noted. I'm joined on the call this morning by Fred Ruel, the company's Chief Financial Officer of VP Finance, amongst others, as indicated on Slide 3. Fred will take you through the financial results in a few minutes. Three things to take away from the second quarter. First, our portfolio did its job. Revenues of $97.8 million and operating cash flow of $83.2 million were both up 62% over the second quarter of last year on a 5% increase in gold equivalent ounces. That spread, 5 points of GEO growth producing 62 points of cash flow growth is the