Cross Timbers Royalty Trust (CRT) Q3 2024 earnings summary

Executive summary

• Q3 2024 distributable income was $1,521,252, or $0.253542 per unit, versus $2,451,192, or $0.408532, in Q3 2023.

• 9M 2024 distributable income was $4,360,224, or $0.726704 per unit, versus $9,131,004, or $1.521834, in 9M 2023.

Financial highlights

• Q3 net profits income fell 37% YoY to $1,697,724; 9M net profits income fell 48% to $5,100,336.

• Q3 total revenues declined 15% to $4,588,397; 9M total revenues declined 30% to $13,674,494.

• Administration expense was $190,936 in Q3, down $50,648 YoY; 9M expense was $786,722, up $117,840 YoY.

Key financial ratios and metrics

• Q3 2024 oil sales price averaged $77.54/Bbl, up 4% YoY; gas averaged $3.65/Mcf, down 14%.

• 9M 2024 oil averaged $76.68/Bbl, up 1% YoY; gas averaged $4.02/Mcf, down 37%.

• At September 30, 2024, cash and short-term investments were $1,608,226; net profits interests were carried at $2,477,975.