Filing Flows › TXO Partners, L.P. (TXO) › Q2 2025
TXO Partners, L.P. (TXO) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 5, 2025
TXO Partners, L.P. (TXO) reported revenue of $89.9M for the second quarter 2025 (Q2 2025), +57% from a year earlier and +7% from the quarter before. Operating margin was -4.1%, net loss $135K (0.2% of revenue).
TXO Partners, L.P., Q2 2025: revenue $89.9M (+57% year over year), operating margin -4.1%, net loss $135K, operating cash flow $26.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $89.9M | +7% | +57% |
| Operating profit | −$3.7M | — | — |
| Net earnings | −$135K | -106% | — |
| Operating cash flow | $26.9M | -12% | +17% |
| Free cash flow | $20.2M | -10% | +15% |
What changed
Revenue was $89.9M in Q2 2025, up 57% year over year and up 7% from the previous quarter. Oil and condensate was the largest line at 66% of revenue. Oil and condensate added $16.3M year over year (up 38%), 50% of the total change.
Operating costs exceeded revenue by $3.7M, an operating margin of -4.1%. Total costs grew 39% against revenue growth of 57%. The fastest-growing cost line was General & admin (+106%). The quarter ended with a net loss of $135K, after a profit of $2.4M the previous quarter. Non-operating items added $3.6M, -2652% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $26.9M (up 17% year over year). Non-cash charges added back $21.7M of depreciation and amortization and $7.2M of share-based compensation. Working capital and other items used $1.9M. Capital expenditures of $6.7M left free cash flow of $20.2M.
Questions
What was TXO Partners, L.P.'s revenue in the second quarter 2025?
TXO Partners, L.P.
Was TXO Partners, L.P. profitable in the second quarter 2025?
Operating loss was $3.7M (-4.1% of revenue) and net loss $135K.
Source: TXO Partners, L.P. 10-Q on SEC EDGAR.