Kimbell Royalty Partners LP (KRP) Misses Q2 EPS by $1.29, Revenues Miss

Kimbell Royalty Partners LP (NYSE: KRP) reported Q2 EPS of ($1.39), $1.29 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $12.8 million versus the consensus estimate of $18.99 million.

Robert Ravnaas, Chairman and Chief Executive Officer of Kimbell's general partner commented, "We are encouraged by what we see as a gradual recovery in both commodity prices and the U.S. economy and are cautiously optimistic that the worst is behind us with regard to production curtailments. Despite challenges during the second quarter, we believe we benefited from the full integration of the Springbok assets and increased our Q2 2020 payout ratio from 50% to 75% of cash available for distribution. We believe the Kimbell business model is highly differentiated from most companies in the U.S. energy sector given our pure royalty model, diverse asset base, mix of commodities, substantial hedges and low PDP decline rate, which is among the best in the industry. While many risks and uncertainties remain in the economy and surrounding the continuing COVID-19 crisis, we believe Kimbell is well-positioned to manage its business through these challenges."

For earnings history and earnings-related data on Kimbell Royalty Partners LP (KRP) click here.

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