PermRock Royalty Trust (PRT) Q4 2025 earnings summary

Executive summary

• Passive royalty trust receives 80% of net profits from oil and gas production across Permian Basin properties; monthly cash distributions depend on production, prices and operating costs.

• FY25 distributable income declined to $4.713 million from $5.161 million; a $39.9 million impairment reduced the Net Profits Interest carrying value to $26.6 million without affecting distributable income.

Financial highlights

• FY25 net profits income was $5.559 million versus $5.959 million in FY24; total revenue was $5.607 million versus $6.018 million, and G&A expense rose to $894,680 from $856,766.

• FY25 distributable income per unit was $0.387371, down from $0.424259; Q4 net profits income was $1.112 million and distributable income was $934,447, or $0.076808 per unit.

• FY25 income decline reflected lower oil and gas sales volumes and lower oil prices, partly offset by higher natural gas prices; interest income also edged lower.

Outlook and guidance

• T2S has no capital budget for 2026 and established a $0.75 million workover budget; plans may change with project economics, commodity prices, operating performance and regulatory timing.

• Two Crane County wells planned for 2025, one injector and one producer, were deferred pending improved market visibility and commodity price stability; two non-operated Permian Shelf wells drilled in 2025 were completed in Q1 2026.

• Subsequent per-unit distributions were $0.019386 for January 2026, $0.010831 for February, and $0.002995 declared for March 2026.