---
schema_version: "secwatch.filing_event.v1"
accession: "0000072633-23-000007"
form_type: "8-K"
ticker: "NRT"
cik: "0000072633"
company_name: "NORTH EUROPEAN OIL ROYALTY TRUST"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:48:53.266108+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# North European Oil Royalty Q2 net income up 167%, distribution $1.05; warns Q3 drop due to overpayment

## Summary
- Q2 FY2023 net income $9.50M vs $3.56M a year ago, up 167%.
- Distribution per unit $1.05, up 176% from $0.38 in Q2 FY2022.
- Six-month net income $19.04M, up 222% from $5.91M; distribution $2.05 vs $0.63.
- Negative carry-over from overpaid royalties will substantially reduce Q3 distributions.
- Trust expenses rose 46% to $313K, driven by higher trustee fees tied to royalty income.

## SEC filing metadata
- accession: 0000072633-23-000007
- form_type: 8-K
- ticker: NRT
- cik: 0000072633
- company_name: NORTH EUROPEAN OIL ROYALTY TRUST
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72633/000007263323000007/0000072633-23-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72633/000007263323000007/ek051523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000072633-23-000007
- JSON: https://secwatch.observer/filing/0000072633-23-000007.json
- Plain text: https://secwatch.observer/filing/0000072633-23-000007.txt

## Key facts
- Earnings Releases
  NORTH EUROPEAN OIL ROYALTY TRUST reported second quarter of fiscal 2023 results: revenue $9,760,018, net income $9,504,566, EPS $1.05.
  - Period: second quarter of fiscal 2023
  - Revenue: $9,760,018
  - Net income: $9,504,566
  - EPS: $1.05
  - Result: reported results
  source text: 2nd Fiscal Quarter Ended 4/30/2023 2nd Fiscal Quarter Ended 4/30/2022 Percentage Change Total Royalty Income $9,760,018 $3,773,568 +158.64% Net Income $9,504,566 $3,559,968 +166.98% Distribution per Unit $1.05 $0.38 +176.32%
  evidence_url: https://www.sec.gov/Archives/edgar/data/72633/000007263323000007/0000072633-23-000007-index.htm
- Earnings Releases
  NORTH EUROPEAN OIL ROYALTY TRUST reported Six Months Ended 4/30/2023 results: revenue $19,525,901, net income $19,040,580, EPS $2.05.
  - Period: Six Months Ended 4/30/2023
  - Revenue: $19,525,901
  - Net income: $19,040,580
  - EPS: $2.05
  - Result: reported results
  source text: Six Months Ended 4/30/2023 Six Months Ended 4/30/2022 Percentage Change Total Royalty Income $19,525,901 $6,320,107 +208.95% Net Income $19,040,580 $5,911,787 +222.08% Distribution per Unit $2.05 $0.63 +225.40%
  evidence_url: https://www.sec.gov/Archives/edgar/data/72633/000007263323000007/0000072633-23-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.