Diversified Royalty Corp T.DIV

Stuck till interested

[maplak]

rates come down. 

Diversified Royalty Q2 Net Income Falls to $8.2 Million 

 

MIDNIGHTTRADER - Updated just now 

06:24 AM EDT, 08/12/2024 (MT Newswires) -- Diversified Royalty (DIV.TO) over the weekend said its second-quarter net income fell due to higher interest expense even as adjusted revenues grew.

Net income for the quarter fell to $8.2 million from $9.1 million. Adjusted royalty income rose to $17.9 million from $15.3 million.

Adjusted revenue advanced to $18.1 million from $15.4 million. The acquisition of the BarBurrito rights on Oct. 4, 2023 and the addition of five new locations on May 1, 2023 played a key role in the increase in incremental revenue, the company said.

"Q2 was DIV's best quarter in terms of adjusted revenue in its history as a royalty company," said Diversified Royalty President and CEO Sean Morrison.

[nedstar71]

I got that alert this morning from TD.  Net income was down but overall earnings looked ok to me, no real negative surprises.  Good thing Mr. Lube and fixed royalty increases are around to pick up the rest of the softness.  The record adjusted revenue really isn't worth mentioning for reasons already pointed out.  If it wasn't a record after buying more revenue within