Kimbell Royalty Partners Earnings Call Transcripts
Fiscal Year 2026
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Q3 production and adjusted EBITDA reached records as acquisitions expanded the asset base. The $0.45 distribution, Q4 cash-flow outlook, and growing drilling inventory support continued growth, while acquisition underwriting remains focused on immediate accretion.
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Q2 2026 set new records for revenue, net income, and adjusted EBITDA, driven by organic growth and acquisitions. Distribution per unit rose 15% sequentially, and leverage remained conservative. The company remains bullish on sector growth and continues to pursue selective acquisitions.
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Q1 2026 saw strong production and financial results, with revenues of $82.9M and an 11% increase in distribution. Guidance for 2026 is affirmed, with higher oil prices expected to drive increased activity and potential upside.
Fiscal Year 2025
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Strong Q4 and full-year 2025 results featured organic production growth, a major Permian acquisition, and increased distributions. Financial discipline reduced debt, while 2026 guidance signals stable production and continued M&A opportunities.
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Q3 saw 1% organic production growth and revenues of $76.8M, with strong performance in diversified basins. The $0.35/unit distribution is fully a return of capital, and guidance for 2025 is reaffirmed amid sector headwinds. Debt remains conservative at 1.6x EBITDA.
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Q2 2025 saw strong cash flow, lower G&A per BOE, and a 38% distribution increase. Rig activity outperformed the broader market, with Permian and Haynesville showing growth. Debt reduction and a conservative balance sheet support continued robust development.
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Record Q1 results included all-time highs in revenues, Adjusted EBITDA, and cash available for distribution, driven by a major Permian acquisition and robust drilling activity. Distribution increased 17.5% from Q4, with 70% as return of capital, and leverage remains conservative at 1.5x.
Fiscal Year 2024
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Production, revenue, and EBITDA reached record levels in 2024, supported by major acquisitions and robust drilling activity. 2025 guidance sets a new production record, with a conservative outlook and continued focus on large-scale M&A and disciplined capital allocation.
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Q3 2024 saw strong financial results with $71.1M in revenue, $25.8M net income, and a $0.41/unit cash distribution. Record lease bonuses and increased DUCs, especially in the Permian and Mid-Continent, support a positive production outlook.
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Q2 2024 saw strong cash flow, record low G&A per BOE, and robust rig activity, with revenues of $77M and net income of $15.2M. Guidance was affirmed, and management plans to redeem half of preferred equity by year-end while maintaining a conservative balance sheet.