North European Oil Royalty Trust Q1 Net Income Surges 581% to $1.9M
North European Oil Royalty Trust, a Delaware-domiciled royalty trust, reported net income of $1.95 million for the three months ending January 31, 2026, up sharply from $285,468 in the year-earlier quarter. Revenue more than quadrupled to $2.23 million.
North European Oil Royalty Trust, a Delaware-domiciled royalty trust, reported net income of $1.95 million for the three months ending January 31, 2026, up 581% from $285,468 in the same quarter a year earlier. The swing reflected a 330% jump in total revenue to $2.23 million from $519,433 in the prior-year period. Read more earnings reports.
Net revenue for the quarter came in at $2.21 million, compared with $505,697 a year earlier. Operating expenses rose to $282,442 from $232,012, an increase of 22%.
Earnings per share climbed to $0.21 from $0.03 in the year-earlier quarter. The trust's share count remained flat at 9.19 million shares outstanding.
Balance Sheet and Cash Position
Total assets stood at $3.88 million as of January 31, 2026, down from $4.79 million at the end of the prior fiscal year on October 31, 2025. The decline reflected cash distributions to unitholders during the quarter.
Cash and cash equivalents totaled $3.88 million at quarter-end, down from $4.79 million three months earlier. A year earlier, the trust held $1.73 million in cash as of January 31, 2025.
The trust distributed $3.14 million to unitholders during the quarter, compared with $417,777 in distributions in the year-earlier period, based on cash used in financing activities.
Financial Summary
| Metric | Q1 2026 (ending Jan 31, 2026) | Q1 2025 (ending Jan 31, 2025) |
|---|---|---|
| Total Revenue | $2,230,958 | $519,433 |
| Net Revenue | $2,212,286 | $505,697 |
| Operating Expenses | $282,442 | $232,012 |
| Net Income | $1,945,021 | $285,468 |
| EPS (Basic) | $0.21 | $0.03 |
| Total Assets | $3,881,095 | $4,785,157 |
| Cash & Cash Equivalents | $3,881,094 | $4,785,156 |
Retained earnings decreased to $1.86 million as of January 31, 2026, from $1.94 million at the end of the prior fiscal year, driven by the quarterly distribution exceeding net income for the period.