Diversified Royalty (DIV) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 72.7% YoY to $31.5M; combined contribution increased 27.2% to $24.9M and distributable cash rose 21.9% to $15.5M.

• Q3 net income fell to $5.5M from $8.7M, as higher expenses and impairments outweighed stronger combined contribution.

Financial highlights

• Q3 revenue was $31.5M vs. $18.3M; 9M revenue was $70.7M, up 36.6% YoY.

• Combined contribution was $24.9M in Q3, up 27.2%, and $65.5M for 9M, up 17.5% YoY.

• Distributable cash was $15.5M ($0.0824/share) in Q3 vs. $12.7M ($0.0748/share); 9M cash was $40.6M, up 12.5%.

• Net income was $5.5M in Q3 vs. $8.7M; operating cash flow was $9.5M vs. $13.4M.

Outlook and guidance

• Mr. Lube + Tires remained on track for 18 new locations in 2026 and estimated adjusted EBITDA contribution of $58.7M for the 12 months after acquisition close.

• 2027 plans budget 16 new locations; bolt-on acquisition opportunities are under consideration.

• The stated objective is predictable, stable monthly dividends, with increases over time as cash flow per share allows.