Dorchester Minerals, L.P. Announces Second Quarter Results
Dorchester Minerals, L.P. (NASDAQ: DMLP) has reported its financial results for the second quarter of 2024. The Partnership's net income reached $23,628,000, or $0.57 per common unit, showing an increase from the same period in 2023. Operating revenues for Q2 2024 were $37,360,000, up from $30,619,000 in Q2 2023.
The Partnership declared a second quarter distribution of $0.702058 per common unit, payable on August 8, 2024. For the six months ended June 30, 2024, net income was $41,795,000, slightly lower than the $47,874,000 reported for the same period in 2023. Dorchester Minerals owns producing and non-producing oil and natural gas interests across 28 states.
Dorchester Minerals, L.P. (NASDAQ: DMLP) ha riportato i risultati finanziari per il secondo trimestre del 2024. Il reddito netto della Società ha raggiunto $23.628.000, ovvero $0,57 per unità comune, mostrando un incremento rispetto allo stesso periodo del 2023. Le entrate operative per il secondo trimestre 2024 sono state di $37.360.000, rispetto a $30.619.000 nel secondo trimestre 2023.
La Società ha dichiarato una distribuzione del secondo trimestre di $0,702058 per unità comune, che sarà pagata il 8 agosto 2024. Per i sei mesi conclusisi il 30 giugno 2024, il reddito netto è stato di $41.795.000, leggermente inferiore ai $47.874.000 riportati per lo stesso periodo del 2023. Dorchester Minerals possiede interessi in petrolio e gas naturale, sia produttivi che non produttivi, in 28 stati.
Dorchester Minerals, L.P. (NASDAQ: DMLP) ha reportado sus resultados financieros para el segundo trimestre de 2024. El ingreso neto de la sociedad alcanzó $23,628,000, o $0.57 por unidad común, mostrando un aumento con respecto al mismo periodo de 2023. Los ingresos operativos para el segundo trimestre de 2024 fueron $37,360,000, en comparación con $30,619,000 en el segundo trimestre de 2023.
La sociedad declaró una distribución del segundo trimestre de $0.702058 por unidad común, que se pagará el 8 de agosto de 2024. Para los seis meses que terminaron el 30 de junio de 2024, el ingreso neto fue de $41,795,000, ligeramente inferior a los $47,874,000 reportados para el mismo período de 2023. Dorchester Minerals posee intereses en petróleo y gas natural, tanto en producción como no en producción, en 28 estados.
Dorchester Minerals, L.P. (NASDAQ: DMLP)는 2024년 2분기 재무 결과를 보고했습니다. 파트너십의 순이익은 $23,628,000, 즉 주당 $0.57에 도달하며, 2023년 같은 기간에 비해 증가했습니다. 2024년 2분기 운영 수익은 $37,360,000로, 2023년 2분기의 $30,619,000에서 증가했습니다.
파트너십은 2분기 배당금으로 주당 $0.702058를 발표했으며, 이는 2024년 8월 8일에 지급될 예정입니다. 2024년 6월 30일로 종료된 6개월 동안 순이익은 $41,795,000으로, 2023년 같은 기간의 $47,874,000보다 약간 낮습니다. Dorchester Minerals는 28개 주에서 생산 및 비생산 원유 및 천연가스 자산을 보유하고 있습니다.
Dorchester Minerals, L.P. (NASDAQ: DMLP) a annoncé ses résultats financiers pour le deuxième trimestre de 2024. Le revenu net du partenariat a atteint $23.628.000, soit $0,57 par unité commune, affichant une augmentation par rapport à la même période en 2023. Les revenus d'exploitation pour le 2ème trimestre 2024 se sont élevés à $37.360.000, contre $30.619.000 au 2ème trimestre 2023.
Le partenariat a déclaré une distribution du deuxième trimestre de $0,702058 par unité commune, payable le 8 août 2024. Pour les six mois se terminant le 30 juin 2024, le revenu net était de $41.795.000, légèrement inférieur aux $47.874.000 déclarés pour la même période en 2023. Dorchester Minerals possède des intérêts en pétrole et en gaz naturel, à la fois en production et non en production, dans 28 États.
Dorchester Minerals, L.P. (NASDAQ: DMLP) hat seine finanziellen Ergebnisse für das zweite Quartal 2024 veröffentlicht. Der Nettoertrag der Partnerschaft betrug $23.628.000, was $0,57 pro Stammaktie entspricht und eine Steigerung im Vergleich zum Vorjahreszeitraum zeigt. Die Betriebs Einnahmen für das 2. Quartal 2024 lagen bei $37.360.000, ein Anstieg im Vergleich zu $30.619.000 im 2. Quartal 2023.
Die Partnerschaft erklärte eine Verteilung für das zweite Quartal in Höhe von $0,702058 pro Stammaktie, die am 8. August 2024 ausgezahlt wird. Für die sechs Monate bis zum 30. Juni 2024 betrug der Nettoertrag $41.795.000, was geringfügig niedriger ist als die $47.874.000, die für denselben Zeitraum im Jahr 2023 gemeldet wurden. Dorchester Minerals besitzt Produktions- und Nichtproduktionsinteressen an Öl und Erdgas in 28 Bundesstaaten.
- Net income increased to $23,628,000 in Q2 2024, up from $19,804,000 in Q2 2023
- Earnings per unit rose to $0.57 in Q2 2024, compared to $0.50 in Q2 2023
- Operating revenues grew to $37,360,000 in Q2 2024, an increase from $30,619,000 in Q2 2023
- Declared a quarterly distribution of $0.702058 per common unit
- Six-month net income decreased to $41,795,000 in 2024, down from $47,874,000 in 2023
- Six-month operating revenues declined to $68,339,000 in 2024, compared to $70,786,000 in 2023
Insights
Dorchester Minerals' Q2 2024 results show a solid performance with notable year-over-year improvements. Net income increased by
The Partnership's operating revenues saw a significant boost, climbing
The declared distribution of
While the results are encouraging, it's important to consider the cyclical nature of the oil and gas industry. Dorchester's diverse portfolio across 28 states provides some insulation against regional fluctuations, but the company remains exposed to broader market trends and commodity price risks.
Dorchester Minerals' Q2 performance outpaced the broader energy sector, which has been grappling with price volatility and demand uncertainties. The
The Partnership's unique business model as an owner of mineral and royalty interests positions it favorably in the current market. Unlike traditional E&P companies, Dorchester doesn't bear the direct costs and risks associated with exploration and production activities. This structure allows for higher margins and more stable cash flows, which is reflected in the robust distribution to unitholders.
However, investors should be mindful of the potential headwinds. The slight decline in six-month figures compared to 2023 hints at the ongoing challenges in the energy markets. Factors such as global economic uncertainties, shifts towards renewable energy and potential regulatory changes could impact future performance.
The Partnership's presence across 28 states is a double-edged sword. While it provides geographical diversification, it also exposes Dorchester to a complex web of state-specific regulations and market dynamics. This broad exposure requires careful management and constant monitoring of regional trends.
Looking ahead, Dorchester's performance will likely continue to be tied closely to commodity prices and overall energy demand. Investors should watch for any shifts in production levels from the properties where Dorchester holds interests, as well as broader industry trends that could affect the company's revenue streams.
DALLAS, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended June 30, 2024 of
A comparison of the Partnership’s consolidated results for the quarters ended June 30, 2024 and 2023 are set forth below:
| Three Months Ended | Six Months Ended | ||||||||||||||
| June 30, | June 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Operating Revenues | $ | 37,360,000 | $ | 30,619,000 | $ | 68,339,000 | $ | 70,786,000 | |||||||
| Net Income | $ | 23,628,000 | $ | 19,804,000 | $ | 41,795,000 | $ | 47,874,000 | |||||||
| Net Income Per Common Unit | $ | 0.57 | $ | 0.50 | $ | 1.01 | $ | 1.21 | |||||||
The Partnership previously declared its second quarter distribution in the amount of
Dorchester Minerals, L.P. is a Dallas based owner of producing and non-producing oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests located in 28 states. Its common units trade on the NASDAQ Global Select Market under the symbol DMLP.
FORWARD-LOOKING STATEMENTS
Portions of this document may constitute "forward-looking statements" as defined by federal law. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Examples of such uncertainties and risk factors include, but are not limited to, changes in the price or demand for oil and natural gas, changes in the operations on or development of the Partnership’s properties, changes in economic and industry conditions and changes in regulatory requirements (including changes in environmental requirements) and the Partnership’s financial position, business strategy and other plans and objectives for future operations. These and other factors are set forth in the Partnership's filings with the Securities and Exchange Commission.
| Contact: | Martye Miller | (214) 559-0300 | ||
FAQ
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