Revenue: As of FY2026 Q1, the actual value is USD 14.19 M.EPS: As of FY2026 Q1, the actual value is USD 0.89.EBIT: As of FY2026 Q1, the actual value is USD 12.9 M.<h3>Segment Revenue</h3><ul><li>Royalty income for the three months ended March 31, 2026, was $14,191,624, representing a decrease of approximately $5,203,000, or 27%, compared to $19,394,566 in the first quarter of 2025.<ul><li>This decrease was primarily driven by lower production of both oil and natural gas (-$7.0 million), lower miscellaneous and settlement income (-$0.7 million), and lower oil prices (-$0.5 million).</li><li>These negative impacts were partially offset by higher natural gas prices (+$2.3 million) and lower operating expenses and taxes (+$0.7 million).</li></ul></li><li>Compared to the preceding quarter ended December 31, 2025, royalty income increased by approximately $631,000, or 5%.<ul><li>This increase was mainly due to higher natural gas prices (+$1.0 million) and lower operating expenses and taxes (+$2.4 million).</li><li>This was partially offset by lower production of oil and natural gas (-$1.8 million) and lower oil prices (-$1.0 million).</li></ul></li></ul><h3>Operational Metrics</h3><ul><li>#### Distributable Income<ul><li>For the three months ended March 31, 2026, distributable income was $13,042,296, or $0.89 per unit.</li><li>This compares to $18,146,483, or $1.24 per unit, for the same period in 2025.</li></ul></li><li>#### General and Administrative Expenses<ul><li>Totaled $1,222,077 for the three months ended March 31, 2026, marking a decrease of approximately $133,000 compared to $1,355,043 in the first quarter of 2025.<ul><li>This decrease was attributed to lower Escrow Agent/Trustee fees (-$52,300), professional and legal fees (-$24,100), unitholder services cost (-$53,400), and miscellaneous expenses (-$3,200) compared to Q1 2025.</li></ul></li><li>Compared to the previous quarter ended December 31, 2025, general and administrative expenses increased by approximately $327,400.<ul><li>This was primarily due to increases in professional and legal fees (+$225,500) and unitholder services costs (+$150,600), partially offset by decreases in Escrow Agent/Trustee/Bonus fees (-$9,800) and miscellaneous and other expenses (-$39,100).</li></ul></li></ul></li></ul><h3>Cash Flow</h3><ul><li>#### Distributions<ul><li>Distributions during the three months ended March 31, 2026, were $0.321550, $0.283370, and $0.286230 per unit payable to unitholders of record on January 15, February 17, and March 16, 2026, respectively.</li><li>Distributions per unit for the three months ended March 31, 2026, were $0.89, compared to $1.19 for the same period in 2025.</li><li>Subsequent to March 31, 2026, Sabine Royalty Trust declared distributions of $0.324970 per unit for April 2026 and $0.497900 per unit for May 2026.</li></ul></li></ul><h3>Unique Metrics</h3><ul><li>#### Interest Income<ul><li>Was $72,749 for the three months ended March 31, 2026.</li><li>This represents a decrease of approximately $34,200 compared to $106,960 in the first quarter of 2025, and a decrease of approximately $16,800 compared to the preceding quarter ended December 31, 2025.</li></ul></li><li>#### Production Volumes<ul><li>Oil (Bbls): 139,120 for Q1 2026, down from 211,707 in Q1 2025 and 150,309 in Q4 2025.</li><li>Gas (Mcfs): 2,838,284 for Q1 2026, down from 3,883,612 in Q1 2025 and 3,243,044 in Q4 2025.</li></ul></li><li>#### Average Realized Prices<ul><li>Oil (per Bbl): $56.91 for Q1 2026, down from $59.17 in Q1 2025 and $63.19 in Q4 2025.</li><li>Gas (per Mcf): $2.78 for Q1 2026, up from $2.19 in Q1 2025 and $2.47 in Q4 2025.</li></ul></li></ul><h3>Future Outlook and Strategy</h3>Sabine Royalty Trust’s income and monthly distributions are significantly influenced by fluctuating commodity prices, which are subject to supply and demand changes, market uncertainty, and geopolitical factors beyond the Trustee’s control. While oil prices rose in early 2026 due to demand expectations and production discipline, and natural gas prices increased due to tighter market conditions, declining crude oil and natural gas prices reduce distributable income and may decrease exploration and development activity on the Trust’s properties as projects become uneconomic.

Sabine Royalty Tr | 10-Q: FY2026 Q1 Revenue: USD 14.19 M