Reported Earnings • May 11
First quarter 2026 earnings released: EPS: US$0.89 (vs US$1.25 in 1Q 2025) First quarter 2026 results: EPS: US$0.89 (down from US$1.25 in 1Q 2025). Revenue: US$14.3m (down 27% from 1Q 2025). Net income: US$13.0m (down 28% from 1Q 2025). Profit margin: 91% (down from 93% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. SBR
Live News • May 10
Sabine Royalty Trust Distributable Income Falls as Oil Prices and Production Weaken Q1 2026 distributable income was US$13.0m, or US$0.89 per unit, compared with US$18.1m, or US$1.24 per unit, a year earlier.
Royalty income for the quarter was US$14.2m versus US$19.4m in the prior-year period, with weaker oil prices and lower production volumes partially offset by stronger gas pricing.
The trust declared monthly cash distributions of US$0.324970 and US$0.497900 per unit for the April 15 and May 15, 2026 record dates.
For income-focused holders, the latest quarter illustrates how sensitive Sabine Royalty Trust is to changes in both commodity prices and production volumes. Lower oil prices and reduced output affected royalty income and distributable income, while higher natural gas prices, together with lower operating costs and taxes, provided some support.
The declared April and May distributions indicate the near-term cash flow from the trust, even as quarterly figures reflect recent pressure on oil-linked revenue. For those following SBR, it can be useful to monitor the mix between oil and gas exposure, as well as any updates on production trends in the underlying properties, since these factors directly influence distributions. Declared Dividend • May 07
Dividend of US$0.50 announced Shareholders will receive a dividend of US$0.50. Ex-date: 15th May 2026 Payment date: 29th May 2026 Dividend yield will be 6.3%, which is higher than the industry average of 4.5%. Sustainability & Growth The dividend has increased by an average of 6.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 14% to bring the payout ratio under control, which is less than the 17% EPS growth achieved over the last 5 years. 
