Altius Minerals (TSX: ALS) has posted their second quarter financial results, headlined by revenue falling from $19.5 million to $9.8 million on a year over year basis, a crash of 49.7%. The revenue decline has been blamed on lower attributable potash volumes and lower dividends from iron ore, which was partially offset by higher base metal prices.
In terms of attributable royalty revenue, Altius has seen revenue fall from $20.4 million to $12.7 million. On a segmented basis, only renewable energy saw an improvement in revenue, from $1.2 million to $2.1 million, while base and battery metals declined from $5.5 million to $4.7 million, potash fell from $4.8 million to $4.1 million, iron ore declined from $4.1 million to $1.1 million, and interest and investment dropped from $4.8 million to $638 thousand.
Net earnings as a result fell from $8.3 million, or $0.18 per share in the year ago period to $5.5 million, or $0.12 per share in the second quarter. On an adjusted basis, net earnings dropped from $4.0 million, or $0.09 per share, to $1.6 million, or $0.03 per share.
Adjusted EBITDA meanwhile fell from $14.5 million to $7.5 million on a year over year.
The declines didn’t end there either, with adjusted operating cash flow falling from $8.3 million to $4.7 million in the second quarter. While cash and cash equivalents dropped from $15.9 million as of the start of the year to $11.1 million as of the end of the second quarter, while Altius boasts $218 million in public equity holdings.
Cash is expected to get a boost in the near term however to $360 million, with total liquidity expected to bump up to $540 million, upon the sale of a 1% royalty on the Silicon project in Nevada to Franco-Nevada and the sale of Orogen shares to Triple Flag Precious Metals.
The company also declared a $0.10 per share dividend, payable to shareholders of record on August 29, 2025.
Altius Minerals last traded at $29.87 on the TSX.
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