Filing Flows › TXO Partners, L.P. (TXO) › Q1 2025
TXO Partners, L.P. (TXO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
TXO Partners, L.P. (TXO) reported revenue of $84.3M for the first quarter 2025 (Q1 2025), +25% from a year earlier and -6% from the quarter before. Operating margin was -4.2%, net earnings $2.4M (2.9% of revenue).
TXO Partners, L.P., Q1 2025: revenue $84.3M (+25% year over year), operating margin -4.2%, net earnings $2.4M, operating cash flow $30.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $84.3M | -6% | +25% |
| Operating profit | −$3.6M | — | — |
| Net earnings | $2.4M | — | — |
| Operating cash flow | $30.6M | -24% | +21% |
| Free cash flow | $22.3M | -21% | -0.2% |
What changed
Revenue was $84.3M in Q1 2025, up 25% year over year and down 6% from the previous quarter. Oil and condensate was the largest line at 77% of revenue. Oil and condensate added $27.0M year over year (up 71%), 160% of the total change. Natural gas declined 53%.
Operating costs exceeded revenue by $3.6M, an operating margin of -4.2%. Total costs grew 36% against revenue growth of 25%. The fastest-growing cost line was Other operating costs (+38%). Net earnings were $2.4M, down 76% year over year. The effective tax rate was 0.0%. Non-operating items added $6.0M, 248% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $30.6M (up 21% year over year), 1267% of net earnings. Non-cash charges added back $21.4M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $4.6M. Capital expenditures of $8.3M left free cash flow of $22.3M.
Questions
What was TXO Partners, L.P.'s revenue in the first quarter 2025?
TXO Partners, L.P.
Was TXO Partners, L.P. profitable in the first quarter 2025?
Operating loss was $3.6M (-4.2% of revenue) and net earnings $2.4M.
Source: TXO Partners, L.P. 10-Q on SEC EDGAR.