Kimbell Royalty Partners Q2 adjusted EBITDA beats

Kimbell Royalty Partners, LP

07/08/2026 12:13

Overview
U.S. oil and gas royalty owner's Q2 adjusted EBITDA beat analyst expectations
Company reported record oil, natural gas and NGL revenues and net income for Q2
Company raised Q2 distribution by 15% and repurchased 500,000 common units

Outlook
Kimbell affirms its 2026 financial and operational guidance ranges previously disclosed
Company expects to update guidance after closing the Drop Down acquisition announced July 17, 2026
Company says rig activity remains robust with 91 rigs drilling, representing 16% U.S. land rig market share

Result Drivers
RECORD REVENUES - Record oil, natural gas and NGL revenues drove Q2 results, per CEO Robert Ravnaas
ORGANIC PRODUCTION GROWTH - Organic production growth contributed to revenue exceeding $100 mln, per CEO Robert Ravnaas
ACQUISITION IMPACT - Mesa Royalties acquisition added to production late in Q2

Company press release: ID:nPn5rbPf8a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
 
$47.30 mln
 
Q2 Adjusted EBITDA
Beat
$84.91 mln
$74.95 mln (5 Analysts)
Q2 EBITDA
 
$89.89 mln
 
Q2 Operating Income
 
$59.68 mln
 
Q2 Pretax Profit
 
$51.28 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the integrated oil & gas peer group is "buy"
Wall Street's median 12-month price target for Kimbell Royalty Partners, LP is $19.50, about 34.4% above its August 6 closing price of $14.51
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 18 three months ago

Reuters Recommended Reads
Aug 7 - Dorchester Minerals Q2 net income more than doubles on oil volume strength
Aug 5 - Canada's OR Royalties Q2 revenue rises on asset acquisitions
Aug 5 - Texas Pacific Land tops quarterly profit estimates on higher oil prices

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)