on RE Royalties Ltd. (isin : CA05663Q1090)
RE Royalties Announces Second Quarter 2024 Financial Results and Highlights
RE Royalties Ltd. (TSXV:RE, OTCQX:RROYF) has reported its financial results for Q2 2024, ending June 30, 2024. The results indicate a decrease in revenue to $1,828,000, down 47% from the prior year due to a one-time royalty buyout in 2023.
The company's year-to-date revenue saw a 15% decrease, totaling $4,465,000. Quarterly gross profit also fell by 49% to $1,723,000, largely due to the previous year's buyout event.
EBITDA for Q2 2024 decreased by 76% to $524,000. Additionally, a quarterly net loss of $657,000 contrasts with the same quarter last year's net income of $1,123,000.
Despite a quiet quarter in terms of transactions, CEO Bernard Tan stated that significant due diligence on new investment opportunities is underway.
The company will discuss these results in a conference call on September 3, 2024, at 1:00 pm PT (4:00 pm ET).
R. E.
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