Elemental Altus Royalties Reports Q3 Revenue of $20.81 Million, Missing Estimates
Elemental Altus Royalties (ELE) reported third-quarter GAAP earnings per share of $0.06. While the company saw significant year-over-year revenue growth of 203.4%, reaching $20.81 million, this figure fell short of market expectations by approximately $0.85 million. The results come amidst a period of portfolio expansion for the company, including a recent $290 million deal with Orion to bolster its precious metals holdings. Despite the revenue miss, the substantial year-over-year increase highlights rapid scaling in its royalty operations.