Ckx Lands, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 06, 2020 at 02:55 pm EST
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CKX Lands, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 160,842 compared to USD 228,337 a year ago. Operating income was USD 73,331 compared to USD 54,563 a year ago. Net income was USD 50,054 compared to USD 57,970 a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to USD 0.03 a year ago. For the nine months, total revenue was USD 529,930 compared to USD 598,620 a year ago. Operating income was USD 333,378 compared to USD 142,297 a year ago. Net income was USD 320,226 compared to USD 186,962 a year ago. Basic earnings per share from continuing operations was USD 0.16 compared to USD 0.1 a year ago.
CKX Lands, Inc. is engaged in the business of ownership and management of land. Its activities consist of leasing its properties for minerals (oil and gas), raising and harvesting timber and surface use (agriculture, right of ways, hunting). Its segments include oil and gas, surface and timber. It leases its property to oil and gas operators and collects income through its land ownership in the form of oil and gas royalties and lease rentals and geophysical revenues. It receives income from royalty interests and mineral leases related to oil and gas production, timber sales, land sales and surface rents. Oil and Gas segment provides the customer access to a designated tract of land upon which the customer performs exploration, extraction, production and ultimate sale of the oil and gas. It receives royalties on all oil and gas produced by the customer. Timber income is derived from sales of timber on its lands. Surface income is earned from various recurring and non-recurring sources.
CKX LANDS, INC. 