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Dorchester Minerals (DMLP) investor relations material
Dorchester Minerals Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Owns mineral, royalty, overriding royalty, net profits, and leasehold interests in 594 counties across 28 states, with a single reportable segment focused on oil and natural gas royalties.
Net profits interest (NPI) remains in surplus, with $8.4 million in cash on hand for capital commitments, primarily in the Bakken region.
Reported net income of $11,173,000 for Q3 2025, or $0.23 per common unit, compared to $36,413,000 or $0.87 per unit in Q3 2024.
Operating revenues for Q3 2025 were $35,416,000, down from $53,472,000 in Q3 2024.
Nine-month net income was $41,162,000, or $0.84 per unit, versus $78,208,000, or $1.89 per unit, for the same period in 2024.
Financial highlights
Total operating revenues for Q3 2025 were $35.4 million, down from $53.5 million in Q3 2024; nine-month revenues were $111.0 million, down from $121.8 million year-over-year.
Net income for Q3 2025 was $11.2 million, compared to $36.4 million in Q3 2024; nine-month net income was $41.2 million, down from $78.2 million year-over-year.
Net income per common unit for Q3 2025 was $0.23, compared to $0.87 in Q3 2024; nine-month EPS was $0.84, down from $1.89 year-over-year.
Cash and cash equivalents at September 30, 2025 were $41.6 million, compared to $42.5 million at December 31, 2024.
Distributions paid to unitholders for the nine months ended September 30, 2025 totaled $102.4 million.
Outlook and guidance
Management expects sufficient liquidity to fund distributions and operations despite ongoing global conflicts, inflation, and interest rate volatility.
The next cash distribution of $0.689883 per common unit will be paid on November 13, 2025.
Forward-looking statements highlight risks related to oil and gas prices, operational changes, economic and regulatory conditions.
Was Q3 revenue decline due to price or volume?
Quantify depletion's impact on Q3 distribution
What is the strategy for non-producing interests?
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Next Dorchester Minerals earnings date
Q4 202520 Feb, 2026
Next Dorchester Minerals earnings date
Q4 202520 Feb, 2026
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Frequently asked questions
Dorchester Minerals, L.P. is a company engaged in the acquisition, ownership, and administration of producing and non-producing mineral, royalty, and leasehold properties. The company’s portfolio primarily focuses on oil and natural gas interests across various basins in the United States, where it generates revenue through royalty payments and lease income from exploration and production activities conducted by third-party operators. Dorchester Minerals seeks to provide stable cash flows to its unitholders by managing its diversified energy asset base. The company is headquartered in Dallas, Texas, and its shares are listed on the NASDAQ.
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