PermRock Royalty Trust (PRT) Q3 2025 earnings summary

Executive summary

• Q3 2025 distributable income was $1.112 million, or $0.091367 per unit, down from $1.341 million a year earlier; lower production and realized prices drove lower net profits income.

• Nine-month distributable income was $3.778 million, or $0.310563 per unit, compared with $3.813 million; cost containment and improved natural gas pricing offset lower crude oil revenue.

Financial highlights

• Q3 net profits income was $1.247 million vs. $1.549 million YoY; total revenue, including interest, was $1.259 million vs. $1.564 million.

• 9M net profits income was $4.503 million vs. $4.504 million; total revenue was $4.540 million vs. $4.549 million.

• Q3 G&A expense was $147,219 vs. $223,556; 9M expense was $761,411 vs. $735,415, with the increase attributed primarily to payment timing and higher professional expenses.

• Trust corpus was $69.293 million at September 30, 2025, compared with $72.380 million at December 31, 2024; cash and short-term investments were $1.379 million.

Outlook and guidance

• The 2025 capital and workover plan was reduced from $4.0 million to approximately $1.0 million; about $0.2 million had been spent through September 30.

• Two planned Crane County wells, one injector and one producer, were deferred pending improved market visibility and commodity-price stability; timing remains undetermined.

• The revised plan includes workovers, waterflood optimization and reactivation of shut-in wells; spending may change with market conditions, operating performance and capital needs.