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 Societ脿 ha raggiunto $23.628.000, ovvero $0,57 per unit脿 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 Societ脿 ha dichiarato una distribuzione del secondo trimestre di $0,702058 per unit脿 comune, che sar脿 pagata il 8 agosto 2024. Per i sei mesi conclusisi il 30 giugno 2024, il reddito netto 猫 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 alcanz贸 $23,628,000, o $0.57 por unidad com煤n, mostrando un aumento con respecto al mismo periodo de 2023. Los ingresos operativos para el segundo trimestre de 2024 fueron $37,360,000, en comparaci贸n con $30,619,000 en el segundo trimestre de 2023.
La sociedad declar贸 una distribuci贸n del segundo trimestre de $0.702058 por unidad com煤n, que se pagar谩 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 per铆odo de 2023. Dorchester Minerals posee intereses en petr贸leo y gas natural, tanto en producci贸n como no en producci贸n, en 28 estados.
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韺岉姼雱堨嫮鞚赌 2攵勱赴 氚半嫻旮�鞙茧 欤茧嫻 $0.702058毳� 氚滍憸頄堨溂氅�, 鞚措姅 2024雲� 8鞗� 8鞚检棎 歆�旮夒悹 鞓堨爼鞛呺媹雼�. 2024雲� 6鞗� 30鞚茧 膦呺霅� 6臧滌洈 霃欖晥 靾涤澊鞚奠澏� $41,795,000鞙茧, 2023雲� 臧欖澏� 旮瓣皠鞚� $47,874,000氤措嫟 鞎疥皠 雮姷雼堧嫟. Dorchester Minerals電� 28臧� 欤检棎靹� 靸濎偘 氚� 牍勳儩靷� 鞗愳湢 氚� 觳滌棸臧�鞀� 鞛愳偘鞚� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
Dorchester Minerals, L.P. (NASDAQ: DMLP) a annonc茅 ses r茅sultats financiers pour le deuxi猫me trimestre de 2024. Le revenu net du partenariat a atteint $23.628.000, soit $0,57 par unit茅 commune, affichant une augmentation par rapport 脿 la m锚me p茅riode en 2023. Les revenus d'exploitation pour le 2猫me trimestre 2024 se sont 茅lev茅s 脿 $37.360.000, contre $30.619.000 au 2猫me trimestre 2023.
Le partenariat a d茅clar茅 une distribution du deuxi猫me trimestre de $0,702058 par unit茅 commune, payable le 8 ao没t 2024. Pour les six mois se terminant le 30 juin 2024, le revenu net 茅tait de $41.795.000, l茅g猫rement inf茅rieur aux $47.874.000 d茅clar茅s pour la m锚me p茅riode en 2023. Dorchester Minerals poss猫de des int茅r锚ts en p茅trole et en gaz naturel, 脿 la fois en production et non en production, dans 28 脡tats.
Dorchester Minerals, L.P. (NASDAQ: DMLP) hat seine finanziellen Ergebnisse f眉r das zweite Quartal 2024 ver枚ffentlicht. 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 f眉r das 2. Quartal 2024 lagen bei $37.360.000, ein Anstieg im Vergleich zu $30.619.000 im 2. Quartal 2023.
Die Partnerschaft erkl盲rte eine Verteilung f眉r das zweite Quartal in H枚he von $0,702058 pro Stammaktie, die am 8. August 2024 ausgezahlt wird. F眉r die sechs Monate bis zum 30. Juni 2024 betrug der Nettoertrag $41.795.000, was geringf眉gig niedriger ist als die $47.874.000, die f眉r denselben Zeitraum im Jahr 2023 gemeldet wurden. Dorchester Minerals besitzt Produktions- und Nichtproduktionsinteressen an 脰l 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 鈥淧artnership鈥�) (NASDAQ-DMLP) announced today the Partnership鈥檚 net income for the quarter ended June 30, 2024 of
A comparison of the Partnership鈥檚 consolidated results for the quarters ended June 30, 2024 and 2023 are set forth below:
| 听 | Three Months Ended | 听 | Six Months Ended | ||||||||||||
| 听 | June 30, | 听 | June 30, | ||||||||||||
| 听 | 2024 | 听 | 2023 | 听 | 2024 | 听 | 2023 | ||||||||
| Operating Revenues | $ | 37,360,000 | 听 | 听 | $ | 30,619,000 | 听 | 听 | $ | 68,339,000 | 听 | 听 | $ | 70,786,000 | 听 |
| Net Income | $ | 23,628,000 | 听 | 听 | $ | 19,804,000 | 听 | 听 | $ | 41,795,000 | 听 | 听 | $ | 47,874,000 | 听 |
| Net Income Per Common Unit | $ | 0.57 | 听 | 听 | $ | 0.50 | 听 | 听 | $ | 1.01 | 听 | 听 | $ | 1.21 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
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鈥檚 properties, changes in economic and industry conditions and changes in regulatory requirements (including changes in environmental requirements) and the Partnership鈥檚 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: | 听 听 听 听 听听 | Martye Miller | 听 听 听 听 听听 | (214) 559-0300 |
| 听 | 听 | 听 | 听 | 听 |
FAQ
What was Dorchester Minerals' (DMLP) net income for Q2 2024?
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