CKX Lands (CKX) Q2 2025 earnings summary

Executive summary

• Q2 revenue fell 86.8% YoY to $135,936, mainly on lower surface right-of-way income and reduced oil-and-gas production; net income was $161,042 vs. $565,278.�

• H1 revenue declined 58.6% to $484,119, while net income rose to $276,615 from $163,949, reflecting stronger oil-and-gas revenue and lower G&A.�

Financial highlights

• Q2 operating income was $159,669 vs. $646,128; H1 operating income increased to $271,818 from $209,522.�

• Q2 basic EPS was $0.08 vs. $0.28; H1 basic EPS was $0.14 vs. $0.08.�

• H1 revenue was $484,119 vs. $1,169,283; oil-and-gas revenue rose to $325,996 from $243,648, while surface revenue fell to $158,123 from $923,360.�

• H1 G&A fell to $361,476 from $1,066,159, primarily on lower professional fees and share-based compensation expense.�

• Land-sale gain was $189,210 in H1 2025 vs. $140,582 in H1 2024; excluding the gain, reported operating income was $271,818 in H1 2025.�

Outlook and guidance

• Cash and cash equivalents were $7.47M at June 30, 2025; management considers liquidity adequate for projected operations and possible land acquisitions.�

• Strategic review continues, including potential land or asset acquisitions, business combinations, asset dispositions, and reinvestment; no transaction outcome is assured.�

• Remaining ranchette lots are being marketed, and additional Southwest Louisiana land is being assessed for subdivision suitability.�