Cross Timbers Royalty Trust (CRT) Q1 2026 earnings summary

Executive summary

• Q1 2026 net profits income fell 62% YoY to $774,181; distributable income was $503,406, or $0.083901 per unit, versus $1.784 million, or $0.297323 per unit, in Q1 2025.

• Lower oil and gas production, weaker oil prices, and higher overhead and production costs drove the decline; lower taxes, transportation and other costs, development costs, and net excess-cost activity partially offset it.

Financial highlights

• Total income was $787,847 versus $2.065 million YoY; administration expense was $234,441, down $47,021, and the expense reserve increased by $50,000.

• Oil and gas revenues totaled $2.381 million, down 45% YoY; net proceeds were $860,201, down 63%.

• Cash and short-term investments were $1.501 million at March 31, 2026, versus $2.134 million at December 31, 2025; the funded expense reserve was $1.5 million.

Outlook and guidance

• Estimated natural production decline on underlying properties is 6%–8% annually; quarterly production and receipts also vary with timing.