Dorchester Minerals, L.P.: Q3 FY2026 earnings call
What management said about Q3 FY2026, from the documents filed with the SEC on 5 November 2026: press release. Guidance figures: 1 kept. The quarter’s numbers.
Key takeaways
- Quarterly net income rose year over year: Net income for the quarter was $27,583,000, or $0.54 per common unit, against $11,173,000, or $0.23, a year earlier. Source
- Quarterly operating revenues increased: Operating revenues for the quarter were $51,411,000, compared with $35,416,000 in the third quarter of 2025. Source
- Nine-month net income and per-unit earnings rose: Net income for the nine months was $87,591,000, or $1.75 per common unit, against $41,162,000, or $0.84, a year earlier. Source
- Royalty properties produced most receipts: Cash receipts from royalty properties totaled approximately $37.0 million in the third quarter.
- Acquisition closed July 31, 2026: An acquisition closed on July 31, 2026, during the third quarter.
- Third-quarter distribution declared earlier: The third-quarter distribution had been declared before this release. Source
“The Partnership’s cash distributions are not comparable to its net earnings due to timing and other differences, including depletion.”
Dorchester Minerals, L.P., press release
Guidance
| Area | Period | Figure | Against last quarter |
|---|---|---|---|
| Quarterly distribution | Third quarter 2026, payable November 12, 2026 | $0.882297 per common unit | Kept |
What changed from last quarter
- New: An acquisition closed on July 31, 2026, during the third quarter.
Quarterly and nine-month earnings
- Quarterly net income rose year over year: Net income for the quarter was $27,583,000, or $0.54 per common unit, against $11,173,000, or $0.23, a year earlier. Source
- Quarterly operating revenues increased: Operating revenues for the quarter were $51,411,000, compared with $35,416,000 in the third quarter of 2025. Source
- Nine-month revenue increased: Operating revenues for the nine months ended September 30, 2026 were $166,361,000, against $110,975,000 a year earlier. Source
- Nine-month net income and per-unit earnings rose: Net income for the nine months was $87,591,000, or $1.75 per common unit, against $41,162,000, or $0.84, a year earlier. Source
Royalty properties receipts
- Royalty properties produced most receipts: Cash receipts from royalty properties totaled approximately $37.0 million in the third quarter.
- Most royalty receipts reflect recent sales: About 80% reflect oil sales from June through August 2026 and natural gas sales from May through July 2026.
- Remaining royalty receipts from prior periods: About 20% of royalty receipts came from prior sales periods.
“net income for the quarter ended September 30, 2026 of $27,583,000, or $0.54 per common unit.”
Dorchester Minerals, L.P., press release
NPI and lease bonus receipts
- Net profits interest receipts for quarter: Cash receipts attributable to the Net Profits Interest in the third quarter totaled approximately $3.0 million.
- Half of NPI receipts from recent sales: About 50% reflect oil and natural gas sales from May through July 2026.
- Other half of NPI receipts from prior periods: The remaining 50% of net profits interest receipts came from prior sales periods.
- Lease bonus and other income reported: Cash receipts from lease bonus and other income were approximately $6.3 million in the quarter.
Acquisition and asset footprint
- Acquisition closed July 31, 2026: An acquisition closed on July 31, 2026, during the third quarter.
- Contributed cash of about $4.4 million: Cash contributed and attributed to that acquisition totaled approximately $4.4 million.
- Interests span 28 states: The Dallas-based partnership holds producing and non-producing mineral, royalty, overriding royalty, net profits and leasehold interests. Source
Distributions and unitholder payments
- Third-quarter distribution declared earlier: The third-quarter distribution had been declared before this release. Source
- Distribution reflects third-quarter activity: Per the October release, the distribution corresponds to the three-month period ended September 30, 2026.
- Cash distributions differ from net earnings: Cash distributions are not comparable to net earnings because of timing and other differences, including depletion. Source
Non-U.S. investor tax withholding
- Release serves as notice to nominees: The release serves as qualified notice to nominees under Treasury Regulation Section 1.1446-4(b)(4) and (d).
- Some income may not be fully connected: A portion of the income may not be effectively connected income and may follow alternative withholding procedures.
- Highest marginal rate withholding applies: Distributions to non-U.S. investors are subject to federal income tax withholding at the highest marginal rate for individuals or corporations, as applicable.
- Nominees act as withholding agents: Nominees, not the Partnership, are the withholding agents for distributions they receive on behalf of non-U.S. investors.
Coming up, as management said on 5 November 2026
- Distribution payment date: The third-quarter distribution is payable on November 12, 2026, to holders of record on November 2, 2026. Source
Figures management reported
| Figure | Reported |
|---|---|
| Shareholder returns: distribution per common unit | $0.882297 |
Other quarters
Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.