CKX Lands, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 09, 2022 at 11:13 pm IST
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CKX Lands, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 0.054095 million compared to USD 0.053402 million a year ago. Revenue was USD 0.330232 million compared to USD 0.173546 million a year ago. Net loss was USD 0.051703 million compared to net income of USD 0.188509 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 0.1 a year ago.
For the nine months, sales was USD 0.211704 million compared to USD 0.167297 million a year ago. Revenue was USD 0.822362 million compared to USD 0.539729 million a year ago. Net loss was USD 0.323654 million compared to net income of USD 0.789664 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to basic earnings per share from continuing operations of USD 0.41 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. 
