PermRock Royalty Trust (PRT) Q1 2026 earnings summary

Executive summary

• Q1 2026 distributable income was $404,068, or $0.033212 per unit, down from $1,466,195, or $0.120517 per unit, in Q1 2025; lower sales volumes and prices drove the decline.

• The passive 80% Net Profits Interest generated $647,433 in net profits income; severe Texas winter weather and weaker realized prices affected production and receipts.

Financial highlights

• Total revenue was $656,969 versus $1,723,303 in Q1 2025; net profits income was $647,433 versus $1,710,763.

• After $9,536 of interest income and $252,901 of general and administrative expenses, distributable income was $404,068; no cash reserves were retained during the quarter.

• Cash and short-term investments were $1,036,446 at March 31, 2026, versus $1,199,573 at December 31, 2025; the Net Profits Interest carrying value was $26,272,950.

Outlook and guidance

• The 2026 workover budget is $0.7 million for 22 shut-in wells and one plugging and abandonment operation; work is expected in Q2–Q3, with $5,000 spent through March 31.

• Some wells remained offline at March 31 after winter-related freeze-offs and disruptions; restoration was expected during Q2 2026.