NRT Q1 net income surges 305% to $9.54M; distribution $1.00/unit

NORTH EUROPEAN OIL ROYALTY TRUST

Total royalty income $9.77M, up 283.5% YoY from $2.55M.
Net income $9.54M, up 305.5%; distributions per unit $1.00 vs $0.25.
Driven by higher German gas prices (Mobil +362.89%) due to reduced Russian supply.
Trust expenses up 29.7% to $252,792; increase in Trustee and consultant fees.
Anticipated negative adjustment in Q3 due to recent gas price decline, likely reducing cash distributions.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NORTH EUROPEAN OIL ROYALTY TRUST reported the first quarter of fiscal 2023 results: net income $9,536,014.

Period: the first quarter of fiscal 2023
Net income: $9,536,014
Result: reported results

Exact text from the filing

On February 14, 2023, North European Oil Royalty Trust issued a press release via PR Newswire announcing the Trust's net income for the first quarter of fiscal 2023.

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Source: SEC EDGAR

accession 0000072633-23-000002

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