01:30 PM EST, 11/07/2024 (MT Newswires) -- Kimbell Royalty Partners ( KRP ) shares were up more than 3% in recent trading on Thursday after the company posted higher Q3 net income and revenue that also beat expectations.

The company reported Q3 net income of $0.22 per diluted share, up from $0.19 a year earlier.

Three analysts polled by Capital IQ expected $0.21.

Revenue for the quarter ended Sept. 30 was $83.8 million, up from $67.2 million a year earlier.

Analysts surveyed by Capital IQ expected $81 million.

The company lowered its quarterly cash distribution to $0.41 per common unit, payable on Nov. 25 to unitholders of record on Nov. 18.

Price: 16.89, Change: +0.51, Percent Change: +3.11