CKX Lands, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 11, 2022 at 08:15 pm IST
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CKX Lands, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 0.079863 million compared to USD 0.06269 million a year ago. Revenue was USD 0.310214 million compared to USD 0.211306 million a year ago. Net loss was USD 0.276691 million compared to net income of USD 0.174348 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.09 a year ago.
For the six months, sales was USD 0.157609 million compared to USD 0.113894 million a year ago. Revenue was USD 0.49213 million compared to USD 0.366182 million a year ago. Net loss was USD 0.271951 million compared to net income of USD 0.601155 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to basic earnings per share from continuing operations of USD 0.31 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. 