Filing Flows › Dorchester Minerals, L.P. (DMLP) › Q1 2025
Dorchester Minerals, L.P. (DMLP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Dorchester Minerals, L.P. (DMLP) reported revenue of $43.2M for the first quarter 2025 (Q1 2025), +39% from a year earlier and +9% from the quarter before. Operating margin was 40.9%, net earnings $17.6M (40.9% of revenue).
Dorchester Minerals, L.P., Q1 2025: revenue $43.2M (+39% year over year), operating margin 40.9%, net earnings $17.6M, operating cash flow $33.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $43.2M | +9% | +39% |
| Operating profit | $17.6M | +24% | -3% |
| Net earnings | $17.6M | +24% | -3% |
| Operating cash flow | $33.4M | +6% | +19% |
What changed
Revenue was $43.2M in Q1 2025, up 39% year over year and up 9% from the previous quarter. Royalties was the largest line at 88% of revenue. Royalties added $13.0M year over year (up 52%), 106% of the total change. Net Profit Interests declined 14%.
Operating profit was $17.6M, a 40.9% margin (down 17.8 points year over year). Operating profit fell $525K even though revenue rose $12.2M versus a year earlier, so costs grew faster than sales. Total costs grew 99% against revenue growth of 39%. The fastest-growing cost line was Other operating costs (+122%). Net earnings were $17.6M, down 3% year over year. The effective tax rate was 0.0%.
Operating cash flow was $33.4M (up 19% year over year), 189% of net earnings. Non-cash charges added back $16.8M of depreciation and amortization.
Questions
What was Dorchester Minerals, L.P.'s revenue in the first quarter 2025?
Dorchester Minerals, L.P.
Was Dorchester Minerals, L.P. profitable in the first quarter 2025?
Operating profit was $17.6M (40.9% of revenue) and net earnings $17.6M.