Filing Flows › Dorchester Minerals, L.P. (DMLP) › Q1 2026
Dorchester Minerals, L.P. (DMLP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Dorchester Minerals, L.P. (DMLP) reported revenue of $58.9M for the first quarter 2026 (Q1 2026), +36% from a year earlier and +41% from the quarter before. Operating margin was 49.5%, net earnings $29.1M (49.5% of revenue).
Dorchester Minerals, L.P., Q1 2026: revenue $58.9M (+36% year over year), operating margin 49.5%, net earnings $29.1M, operating cash flow $23.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $58.9M | +41% | +36% |
| Operating profit | $29.1M | +80% | +65% |
| Net earnings | $29.1M | +80% | +65% |
| Operating cash flow | $23.9M | -30% | -28% |
What changed
Revenue was $58.9M in Q1 2026, up 36% year over year and up 41% from the previous quarter. Royalties, Oil was the largest line at 62% of revenue. Net Profit Interests added $11.7M year over year (up 245%), 75% of the total change. Royalties, Natural Gas declined 17%.
Operating profit was $29.1M, a 49.5% margin (up 8.6 points year over year). Of the extra revenue versus Q1 2025, 73% reached operating profit, above the 41% margin then. Total costs grew 17% against revenue growth of 36%. Net earnings were $29.1M, up 65% year over year. The effective tax rate was 0.0%.
Operating cash flow was $23.9M (down 28% year over year), 82% of net earnings. Non-cash charges added back $20.9M of depreciation and amortization. Working capital and other items used $26.1M.
Questions
What was Dorchester Minerals, L.P.'s revenue in the first quarter 2026?
Dorchester Minerals, L.P.
Was Dorchester Minerals, L.P. profitable in the first quarter 2026?
Operating profit was $29.1M (49.5% of revenue) and net earnings $29.1M.