---
schema_version: "secwatch.filing_event.v1"
accession: "0000072633-23-000010"
form_type: "8-K"
ticker: "NRT"
cik: "0000072633"
company_name: "NORTH EUROPEAN OIL ROYALTY TRUST"
filed_at: "2023-08-21T23:59:59+00:00"
generated_at: "2026-06-11T06:37:52.600644+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NRT Q3 net income falls 46.6%; Q4 distribution eliminated due to royalty overpayment

## Summary
- Q3 net income $2.29M, down 46.6% YoY from $4.29M; distribution per unit halved to $0.21.
- Negative prior-period adjustment of $3.74M reduced Q3 royalty income; there was none in Q2 FY22.
- Overpayment will fully offset Q4 royalty payments; no cash distribution expected in Q4 fiscal 2023.
- Nine-month net income up 109% to $21.33M on earlier higher gas prices despite Q3 decline.
- Gas sales down ~20% and gas prices down 23% under Mobil and OEG agreements vs Q3 FY22.

## SEC filing metadata
- accession: 0000072633-23-000010
- form_type: 8-K
- ticker: NRT
- cik: 0000072633
- company_name: NORTH EUROPEAN OIL ROYALTY TRUST
- filed_at: 2023-08-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72633/000007263323000010/0000072633-23-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72633/000007263323000010/ek082123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000072633-23-000010
- JSON: https://secwatch.observer/filing/0000072633-23-000010.json
- Plain text: https://secwatch.observer/filing/0000072633-23-000010.txt

## Key facts
- Earnings Releases
  NORTH EUROPEAN OIL ROYALTY TRUST reported third quarter of fiscal 2023 results: net income $2,290,894, EPS $0.21.
  - Period: third quarter of fiscal 2023
  - Net income: $2,290,894
  - EPS: $0.21
  - Result: reported results
  source text: North European Oil Royalty Trust (NYSE-NRT) reported net income for the third quarter of fiscal 2023 compared with the third quarter of fiscal 2022 as detailed in the table below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/72633/000007263323000010/0000072633-23-000010-index.htm

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