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Kimbell Royalty Partners Lp (KRP)
NYSE:KRP
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Earnings Data
Report Date
Feb 27, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.18Last Year’s EPS
$0.14Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -3.44%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong operational and financial performance, with significant achievements in drilling activity, record lease bonuses, and a robust financial position. However, there were some concerns regarding a reduction in permits and a strategic delay in the redemption of preferred stock. Overall, the positive aspects notably outweigh the challenges.Company Guidance
During the third quarter earnings call for Kimbell Royalty Partners, the company provided promising guidance and strong operational metrics. They declared a cash distribution of $0.41 per common unit, contributing to a total of $11.45 per unit distributed since their IPO in 2017. The quarter saw 90 rigs actively drilling on their acreage, representing 16% of the market share of all land rigs in the Lower 48. Notably, Kimbell recorded a 34% increase in net drilled but uncompleted wells (DUCs) quarter-over-quarter, reaching 5.1 net DUCs, driven by activity in the Permian Basin. Total revenues from oil, natural gas, and NGLs were $71.1 million, with a run rate production of 23,846 BOE per day. The company maintained a conservative balance sheet with a net debt to trailing 12-month consolidated adjusted EBITDA ratio of approximately 0.8x, and announced plans to redeem at least half of the Apollo preferred stock by May 2025 to optimize cost savings. They affirmed their 2024 guidance, with a daily production midpoint of 24,000 BOE per day, underscoring confidence in robust development prospects, particularly in the Permian Basin.Strong Drilling Activity
Kimbell Royalty reported 90 rigs actively drilling on their acreage, representing 16% market share of all land rigs in the Lower 48.
Record Lease Bonuses
Achieved the highest lease bonuses in the company's history, reflecting increased operator interest.
Financial Performance and Distributions
Declared a cash distribution of $0.41 per common unit for Q3 2024, with a total cash distributed to common unitholders since IPO reaching $11.45 per unit.
Increase in Drilled but Uncompleted Wells (DUCs)
The number of net DUCs increased by 34% quarter-over-quarter to 5.1 net DUCs, the second highest level in Kimbell's history.
Strong Financial Position
Net debt to trailing 12-month consolidated adjusted EBITDA was approximately 0.8x, with $297.8 million in undrawn capacity under the secured revolving credit facility.
Affirmation of 2024 Guidance
Daily production guidance at its midpoint of 24,000 BOE per day was affirmed, with confidence in continued robust development.
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KRP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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KRP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $15.96 | $16.40 | +2.76% |
| Aug 01, 2024 | $15.63 | $15.15 | -3.07% |
| May 02, 2024 | $14.39 | $14.73 | +2.36% |
| Feb 21, 2024 | $13.77 | $13.77 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Kimbell Royalty Partners Lp (KRP) report earnings?
Kimbell Royalty Partners Lp (KRP) is schdueled to report earning on Feb 27, 2025, Before Open Not Confirmed.
What is Kimbell Royalty Partners Lp (KRP) earnings time?
Kimbell Royalty Partners Lp (KRP) earnings time is at Feb 27, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KRP EPS forecast?
KRP EPS forecast for the fiscal quarter 2024 (Q4) is $0.18.
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