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Kimbell Royalty Partners

Kimbell Royalty Partners (KRP) Q1 2026 Earnings

Reported May 7, 2026 at 7:06 AM ET · SEC Source

Q1 26 EPS

$0.04

MISS 80.95%

Est. $0.21

Q1 26 Revenue

$65.5M

MISS 26.99%

Est. $89.8M

vs S&P Since Q1 26

-4.5%

TRAILING MARKET

KRP -1.3% vs S&P +3.2%

Market Reaction

Did KRP Beat Earnings? Q1 2026 Results

Kimbell Royalty Partners delivered a sharply disappointing first quarter for fiscal 2026, missing on both the top and bottom lines as lower commodity prices and derivative losses took a heavy toll on results. The partnership posted earnings of just $… Read more Kimbell Royalty Partners delivered a sharply disappointing first quarter for fiscal 2026, missing on both the top and bottom lines as lower commodity prices and derivative losses took a heavy toll on results. The partnership posted earnings of just $0.04 per diluted unit, falling 80.95% short of the $0.21 consensus estimate, while revenue came in at $65.54 million, a 26.99% miss versus the $89.78 million Wall Street had expected and a steep 27.4% decline from the year-ago period. The primary culprit was a $18.68 million net loss on commodity derivative instruments, which compounded a decline in core oil, natural gas, and NGL revenues and dragged net income down to $6.94 million from $25.85 million a year earlier. For investors already weighing the sustainability of its distribution yield, the results underscore that sensitivity. On a more constructive note, run-rate production of 25,522 Boe/d exceeded guidance midpoints, and management affirmed its full-year 2026 outlook, expressing confidence that firmer oil prices could gradually lift drilling activity across its acreage through the remainder of the year.

Key Takeaways

  • • Run-rate daily production of 25,522 Boe/d exceeded midpoint of guidance
  • • 85 active rigs on acreage representing 16% market share of U.S. land rig count
  • • Cash G&A per BOE of $2.31 came in below low-end of guidance
  • • Diversified production base across 28 states and every major onshore basin
  • • Permian Basin leading drilling activity with 587 gross DUCs
  • • Average realized oil price of $70.61/Bbl, natural gas $3.32/Mcf, NGLs $24.43/Bbl

KRP Forward Guidance & Outlook

Kimbell affirmed its previously disclosed 2026 financial and operational guidance ranges. Management believes higher oil prices will likely result in a modest increase in drilling activity across oil-weighted basins as 2026 progresses, with operators expected to accelerate DUC completions to capture higher prices and gradually add additional rigs.

24/7 Wall St

KRP YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

KRP Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q1 26

“We are pleased to report another strong quarter with robust drilling activity across our acreage. Kimbell's production exceeded the midpoint of guidance, showing once again the resilience of our high quality, diversified and low decline production base. Kimbell's active rig count remains robust with 85 rigs drilling across our acreage, led by the Permian Basin, and our market share of U.S. land rigs remained at 16%. Cash G&A per BOE was below the low-end of guidance reflecting operational discipline and positive operating leverage.”

— Robert Ravnaas, Q1 2026 Earnings Press Release

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