11:15 AM EDT, 08/01/2024 (MT Newswires) -- Kimbell Royalty Partners ( KRP ) shares fell 1.8% in recent Thursday trading after the company reported Q2 results that lagged market expectations.

The company reported Q2 net income of $0.11 per diluted share, down from $0.23 a year earlier.

Three analysts polled by Capital IQ expected $0.25.

Revenue for the quarter ended June 30 was $76.6 million, up from $60.8 million a year earlier.

Four analysts surveyed by Capital IQ expected $82 million.

The company also declared a quarterly cash distribution of $0.42 per common unit, payable Aug. 19 to unitholders of record on Aug. 12.

Price: 16.22, Change: -0.26, Percent Change: -1.58