Kimbell Royalty Partners LP

NYSE:KRPUnited States

May 2, 2024

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• Kimbell Royalty Partners Q1 Earnings Decline, Revenue Rises, from 1:13PM ET on Thursday May 02, 2024 by MT Newswires

  1:13PM ET on Thursday May 02, 2024 by MT Newswires
  Companies Mentioned: KRP
  01:13 PM EDT, 05/02/2024 (MT Newswires) -- Kimbell Royalty Partners (KRP) Thursday reported Q1 net income of $0.04 per diluted share, down from $0.36 a year earlier. Three analysts polled by Capital IQ expected $0.19. Revenue for the quarter ended ...

• -- Earnings Flash (KRP) KIMBELL ROYALTY PARTNERS LP Posts Q1 Revenue $82.2M, vs. Street Est of $81.1M, from 7:17AM ET on Thursday May 02, 2024 by MT Newswires

  7:17AM ET on Thursday May 02, 2024 by MT Newswires
  Companies Mentioned: KRP
  07:17 AM EDT, 05/02/2024 (MT Newswires) -- ...

• Kimbell Royalty Partners Announces Record First Quarter 2024 Results, from 7:00AM ET on Thursday May 02, 2024 by Dow Jones

  7:00AM ET on Thursday May 02, 2024 by Dow Jones
  Companies Mentioned: KRP
  ================ ================ Adjustments to reconcile Adjusted EBITDA to cash available for distribution Less: Cash interest expense 5,234 4,124 Cash distributions on Series A preferred units 3,800 -- Cash income tax refund -- (639) Distributions on Class B units 21 15 ---------------- ---------------- Cash available for distribution on common units $ 48,878 $ 30,632 ================ ================ Kimbell Royalty Partners, LP Supplemental Schedules (Unaudited, in thousands, except for per-unit data and unit counts) Three Months Ended March 31, 2024 -------------------- Net income $ 9,337 Depreciation and depletion expense 38,167 Interest expense 7,301 Income tax expense 923 Consolidated EBITDA $ 55,728 ---------------- Impairment of oil and natural gas properties 5,963 Unit-based compensation 3,684 Loss on derivative instruments, net of settlements 8,738 ---------------- Consolidated Adjusted EBITDA $ 74,113 Adjusted EBITDA attributable to non-controlling interest (16,180) Adjusted EBITDA attributable to Kimbell Royalty Partners, LP $ 57,933 ================ Adjustments to reconcile Adjusted EBITDA to cash available for distribution Less: Cash interest expense 5,234 Cash distributions on Series A preferred units 3,800 Distributions on Class B units 21 Cash available for distribution on common units $ 48,878 ================ Common units outstanding on March 31, 2024 74,646,476 Common units outstanding on May 13, 2024 Record Date 74,646,476 Cash available for distribution per common unit outstanding $ 0.65 First quarter 2024 distribution declared (1) $ 0.49 (1) The difference between the declared distribution and the cash available for distribution is primarily attributable to Kimbell allocating 25% of cash available for distribution to pay outstanding borrowings under its secured revolving credit facility. Kimbell Royalty Partners, LP Supplemental Schedules (Unaudited, in thousands, except for per-unit data and unit counts) Three Months Ended March 31, 2023 -------------------- Net income $ 28,900 Depreciation and depletion expense 17,564 Interest expense 5,463 Income tax expense 1,403 Consolidated EBITDA $ 53,330 --- --------------- Unit-based compensation 3,170 Gain on derivative instruments, net of settlements (12,500) Consolidated variable interest entities related: Interest earned on marketable securities in Trust Account (2,439) General and administrative expense 708 --- --------------- Consolidated Adjusted EBITDA $ 42,269 Adjusted EBITDA attributable to non-controlling interest (8,137) Adjusted EBITDA attributable to Kimbell Royalty Partners, LP $ 34,132 === =============== Adjustments to reconcile Adjusted EBITDA to cash available for distribution Less: Cash interest expense 4,124 Cash income tax refund (639) Distributions on Class B units 15 Cash available for distribution on common units $ 30,632 === =============== Common units outstanding on March 31, 2023 64,950,333 Common units outstanding on May 15, 2023 Record Date 64,950,333 Cash available for distribution per common unit outstanding $ 0.47 First quarter 2023 distribution declared (1) $ 0.35 (1) The difference between the declared distribution and the cash available for distribution is primarily attributable to Kimbell allocating 25% of cash available for distribution to pay outstanding borrowings under its secured revolving credit facility. Kimbell Royalty Partners, LP Supplemental Schedules (Unaudited, in thousands) Three Months Ended March 31, 2024 -------------------- Net income $ 9,337 Depreciation and depletion expense 38,167 Interest expense 7,301 Income tax expense 923 Consolidated EBITDA $ 55,728 ---------------- Impairment of oil and natural gas properties 5,963 Unit-based compensation 3,684 Loss on derivative instruments, net of settlements 8,738 Consolidated Adjusted EBITDA $ 74,113 ================ Q2 2023 - Q4 2023 Consolidated Adjusted EBITDA (1) 199,689 Trailing Twelve Month Consolidated Adjusted EBITDA $ 273,802 ================ Long-term debt (as of 3/31/24) 285,360 Cash and cash equivalents (as of 3/31/24) (2) (25,000) ---------------- Net debt (as of 3/31/24) $ 260,360 ================ Net Debt to Trailing Twelve Month Consolidated 1.0x Adjusted EBITDA ================ (1) Consolidated Adjusted EBITDA for each of the quarters ended June 30, 2023, September 30, 2023 and December 31, 2023 was previously reported in a news release relating to the applicable quarter, and the reconciliation of net income to consolidated Adjusted EBITDA for each quarter is included in the applicable news release. This also includes the trailing twelve months pro forma results from the Q2 2023 acquisition that closed in May 2023 and the Q3 2023 acquisition that closed in September 2023 in accordance with Kimbell's secured revolving credit facility. (2) In accordance with Kimbell's secured revolving credit facility, the maximum deduction of cash and cash equivalents to be included in the net debt calculation for compliance purposes is $25 million.
  

• *DJ Kimbell Royalty Partners 1Q Rev $82.2M >KRP, from 7:00AM ET on Thursday May 02, 2024 by Dow Jones

  7:00AM ET on Thursday May 02, 2024 by Dow Jones
  Companies Mentioned: KRP