Quarterly ResultMay 8, 2026, 05:12 PM
CKX Lands Q1 Net Income $55K, Revenue Down 51% to $170K
AI Summary
CKX Lands, Inc. reported a significant decline in its first quarter 2026 financial results, with net income falling to $55,244 from $115,573 in the prior year. Total revenue decreased by 51.0% to $170,660, primarily due to a 96.5% drop in oil and gas revenues, partially offset by a 99.2% increase in surface revenues. The decrease in oil and gas revenue was attributed to lower production, reduced average sales prices, and the impact of a land sale in November 2025.
Key Highlights
- Net income decreased to $55,244 for Q1 2026 from $115,573 in Q1 2025.
- Total revenue declined by 51.0% to $170,660 in Q1 2026 from $348,184 in Q1 2025.
- Basic EPS was $0.03 for Q1 2026, down from $0.06 in Q1 2025.
- Oil and gas revenues plummeted by 96.5% to $9,292 in Q1 2026.
- Surface revenue increased by 99.2% to $158,701 in Q1 2026.
- Net cash used in operating activities was $52,331 in Q1 2026, compared to $118,664 provided in Q1 2025.
- The company sold approximately 6,548 acres of land for $8.62 million in November 2025.
- 29 of 39 ranchette-style subdivision lots have been sold as of March 31, 2026.