Dorchester Minerals, L.P. Announces Third Quarter Results

Rhea-AI Summary

Dorchester Minerals reported strong financial results for Q3 2024, with net income reaching $36,413,000 ($0.87 per common unit), up from $29,463,000 ($0.73 per unit) in Q3 2023. Operating revenues increased to $53,472,000 from $42,594,000 year-over-year. The company declared a Q2 distribution of $0.995785 per common unit, payable November 7, 2024. For the nine months ended September 30, 2024, net income was $78,208,000 ($1.89 per unit) compared to $77,337,000 ($1.94 per unit) in 2023.

Positive

• Net income increased 23.6% YoY to $36.4M in Q3 2024
• Operating revenues grew 25.5% YoY to $53.5M in Q3 2024
• Quarterly earnings per unit increased 19.2% YoY to $0.87

Negative

• Nine-month earnings per unit decreased from $1.94 to $1.89 YoY

DALLAS, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership’s net income for the quarter ended September 30, 2024 of $36,413,000, or $0.87 per common unit.

A comparison of the Partnership’s consolidated results for the quarters ended September 30, 2024 and 2023 are set forth below:

	Three Months Ended							Nine Months Ended
	September 30,							September 30,
	2024				2023			2024				2023
Operating Revenues	$	53,472,000			$	42,594,000		$	121,811,000			$	113,380,000
Net Income	$	36,413,000			$	29,463,000		$	78,208,000			$	77,337,000
Net Income Per Common Unit	$	0.87			$	0.73		$	1.89			$	1.94

The Partnership previously declared its second quarter distribution in the amount of $0.995785 per common unit payable on November 7, 2024 to common unitholders of record as of October 28, 2024. The Partnership’s cash distributions are not comparable to its net earnings due to timing and other differences including depletion.

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

What was Dorchester Minerals (DMLP) net income for Q3 2024?

Dorchester Minerals reported a net income of $36,413,000 ($0.87 per common unit) for Q3 2024.

How much is DMLP's Q2 2024 distribution payment?

DMLP declared a Q2 2024 distribution of $0.995785 per common unit, payable on November 7, 2024.

What were DMLP's operating revenues for Q3 2024 vs Q3 2023?

Operating revenues were $53,472,000 in Q3 2024, compared to $42,594,000 in Q3 2023.

How did DMLP's nine-month performance in 2024 compare to 2023?

For the nine months ended September 30, 2024, net income was $78,208,000 ($1.89 per unit) compared to $77,337,000 ($1.94 per unit) in 2023.