CKX LANDS, INC.
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 7, 2026
CKX$10.37-0.8%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-08.
0001437749-26-015951
Item 2. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-07.
0001437749-26-026519
Item 2. MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 55 previous paragraphs and 68 current paragraphs.
37 unchanged; 18 reworded; 9 added; 0 removed; 0 previous and 4 current paragraphs rearranged.
Tables are not compared: 1 previous and 2 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (9)
Current report
Since the November 2025 land sale, the Company has continued to explore with interested parties a range of options to maximize value for shareholders.
Current report
Revenue–*** Six Months Ended June 30, 2026***
Current report
Oil and Gas
Current report
Oil and gas revenues were 14% and 67% of total revenues for the six months ended June 30, 2026 and 2025, respectively.
Current report
Timber
Current report
Surface
Current report
Gain on Sale of Land –Three and Six Months Ended June 30, 2026
Current report
Gain on sale of land was $0 and $189,210 for the three and six months ended June 30, 2026 and 2025, respectively. For the three and six months ended June 30, 2025, this consisted of the sale of one 25-acre lot and one 53-acre lot in Calcasieu parish.
Current report
Net cash used in financing activities was $0 and $147,614 for the six months ended June 30, 2026 and 2025, respectively. For the six months ended June 30, 2025, this resulted from repurchases of common stock from the withholding of shares to pay taxes upon the vesting of stock awards under the stock incentive plan.
Reworded paragraphs (18)
Previous wording
There were no sales of land during the three months ended March 31, 2026 and 2025.
Current wording
There were no sales of land during the three and six months ended June 30, 2026. During the six months ended June 30, 2025, the Company closed on the sale of one 25-acre lot and one 53-acre lot in Calcasieu parish in which it had a 100% ownership interest for net proceeds to the Company of $358,123, inclusive of a gain on the sale of $189,210.
Previous wording
The Company’s results of operations for the three months ended March 31, 2026 were driven primarily by decreases in oil and gas revenues, partially offset by increases in surface revenues. The decrease in oil and gas revenue is due to a decline in net oil and gas produced as well as a decline in average oil sales price. In addition, prior‑period results included one‑time revenue from a single customer, Riceland Petroleum Company, which did not recur in the current period. The decrease in revenues also reflects the sale of producing lands completed in November 2025, which reduced the Company’s oil and gas interests.
Current wording
The Company’s results of operations for the three and six months ended June 30, 2026 were driven primarily by decreases in oil and gas revenues, partially offset by increases in surface revenues. The decrease in oil and gas revenue is due to a decline in net oil and gas produced. The decrease in revenues also reflects the sale of producing lands completed in November 2025, which reduced the Company’s oil and gas interests.
Previous wording
Oil and gas revenues were 5% and 77% of total revenues for the three months ended March 31, 2026 and 2025, respectively.
Current wording
Oil and gas revenues were 22% and 42% of total revenues for the three months ended June 30, 2026 and 2025, respectively.
Previous wording
CKX received oil and/or gas revenues from 48 and 71 wells during the three months ended March 31, 2026 and 2025, respectively.
Current wording
CKX received oil and/or gas revenues from 50 and 76 wells during the three months ended June 30, 2026 and 2025, respectively.
Previous wording
Oil and gas revenues decreased for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025, by $259,216. The decrease was due to a decrease in the average oil sales and average gas sales prices as well as a decrease in net oil and gas produced, which partially resulted from the sale of producing lands in November 2025.
Current wording
Oil and gas revenues decreased for the three months ended June 30, 2026, as compared to the three months ended June 30, 2025, by $19,935. The decrease was due to a decrease in net oil and gas produced, which partially resulted from the sale of producing lands in November 2025.
Previous wording
Net cash used in financing activities was $0 for the three months ended March 31, 2026 and 2025.
Current wording
Timber revenue was $0 for the three months ended June 30, 2026 and 2025.
Previous wording
Surface revenues increased for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025, by $79,025. The increase in surface revenue was due to higher oil and gas delay rental income and higher surface lease income, as well as one small right of way payment received in the current quarter.
Current wording
Surface revenues increased for the three months ended June 30, 2026, as compared to the three months ended June 30, 2025, by $52,313. The increase in surface revenue was due to higher surface lease income, as well as one small right of way payment received in the current quarter.
Previous wording
Total revenues for the three months ended March 31, 2026 were $170,660, a decrease of approximately 51.0% when compared with the same period in 2025. Total revenue consists of oil and gas, timber, and surface revenues. Components of revenues for the three months ended March 31, 2026 as compared to 2025, are as follows:
Current wording
Total revenues for the six months ended June 30, 2026 were $338,974, a decrease of approximately 30% when compared with the same period in 2025. Total revenue consists of oil and gas, timber, and surface revenues. Components of revenues for the six months ended June 30, 2026 as compared to 2025, are as follows:
Previous wording
Timber revenue was $2,667 and $0 for the three months ended March 31, 2026 and 2025, respectively. The increase in timber revenues was due to normal business variations in timber customers’ harvesting.
Current wording
Timber revenue was $2,667 and $0 for the six months ended June 30, 2026 and 2025, respectively. The increase in timber revenues was due to normal business variations in timber customers’ harvesting.
Previous wording
Costs and Expenses –Three Months Ended March 31, 2026
Current wording
Costs and Expenses –Three and Six Months Ended June 30, 2026
Previous wording
Oil and gas costs decreased for the three months ended March 31, 2026 as compared to the three months ended March 31, 2025 by $17,997. Oil and gas costs fluctuated proportionately with increased or decreased production.
Current wording
Oil and gas costs decreased for the three and six months ended June 30, 2026 as compared to the three and six months ended June 30, 2025 by $10,337 and $28,334, respectively. Oil and gas costs fluctuate proportionately with increased or decreased production.
Previous wording
Timber costs decreased for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025 by $3,695. Timber costs are related to general management of the Company’s timberland. The decrease is primarily due to decreased timber management costs.
Current wording
Timber costs decreased for the three and six months ended June 30, 2026 as compared to the three and six months ended June 30, 2025 by $972 and $4,666, respectively. Timber costs are related to general management of the Company’s timberland. The decrease is primarily due to decreased timber management costs.
Previous wording
General and administrative expenses increased for the three months ended March 31, 2026, as compared to the three months ended March 31, 2025 by $31,589. This is primarily due to an increase in professional expenses and salaries and wages.
Current wording
General and administrative expenses decreased for the three months ended June 30, 2026 as compared to the three months ended June 30, 2025 by $8,577. This is primarily due to a decrease in franchise taxes. General and administrative expenses increased for the six months ended June 30, 2026 as compared to the six months ended June 30, 2025 by $23,011. This is primarily due to an increase in salaries and wages.
Previous wording
Current assets totaled $18,084,585 and current liabilities equaled $705,188 at March 31, 2026.
Current wording
Current assets totaled $17,643,653 and current liabilities equaled $141,583 at June 30, 2026.
Previous wording
Net cash provided by (used in) operating activities was $(52,331) and $118,664 for the three months ended March 31, 2026 and 2025, respectively. The decrease in cash provided by operating activities was attributable to a decrease in net income as well as a greater increase in current assets and greater decrease in current liabilities, which both resulted in an unfavorable impact on operating cash flows.
Current wording
Net cash provided by (used in) operating activities was $(464,225) and $94,026 for the six months ended June 30, 2026 and 2025, respectively. The decrease in cash provided by operating activities was attributable to a decrease in net income as well as a greater increase in current assets and greater decrease in current liabilities, which both resulted in an unfavorable impact on operating cash flows.
Previous wording
Net cash used in investing activities was $(5,245,224) for the three months ended March 31, 2026, while net cash provided by investing activities was $172,243 for the three months ended March 31, 2025. For the three months ended March 31, 2026, this resulted from purchases of certificates of deposits and securities of $2,229,234 and $3,015,990, respectively. For the three months ended March 31, 2025, this resulted from purchases of certificates of deposits of $6,502,665, offset by the maturity of certificates of deposit of $6,674,908.
Current wording
Net cash used in investing activities was $2,248,924 for the six months ended June 30, 2026, while net cash provided by investing activities was $4,100,526 for the six months ended June 30, 2025. For the six months ended June 30, 2026, this resulted from purchases of certificates of deposits and securities of $4,478,158 and $3,015,990, respectively, offset by the maturity of certificates of deposits and the sale of securities of $2,229,235 and $3,015,990, respectively. For the six months ended June 30, 2025, this resulted from maturity of certificates of deposit of $10,493,240 and proceeds from the sale of fixed assets of $358,123, offset by purchases of certificates of deposit of $6,750,837.
Previous wording
There were no changes in our significant accounting policies and estimates during the three months ended March 31, 2026 from those set forth in “Significant Accounting Policies and Estimates” in our Annual Report on Form 10-K for the year ended December 31, 2025.
Current wording
There were no changes in our significant accounting policies and estimates during the six months ended June 30, 2026 from those set forth in “Significant Accounting Policies and Estimates” in our Annual Report on Form 10-K for the year ended December 31, 2025.
Previous wording
During the three months ended March 31, 2026, we did not have any off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known as “special purpose entities” (SPEs).
Current wording
During the six months ended June 30, 2026, we did not have any off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known as “special purpose entities” (SPEs).
Rearranged current paragraphs (4)
Current report — wording carried from elsewhere
Total revenues for the three months ended June 30, 2026 were $168,315, an increase of approximately 23.8% when compared with the same period in 2025. Total revenue consists of oil and gas revenues and surface revenues. Components of revenues for the three months ended June 30, 2026 as compared to 2025, are as follows:
Current report — wording carried from elsewhere
CKX received oil and/or gas revenues from 50 and 76 wells during the six months ended June 30, 2026 and 2025, respectively.
Current report — wording carried from elsewhere
Oil and gas revenues decreased for the six months ended June 30, 2026, as compared to the six months ended June 30, 2025, by $279,151. The decrease was due to a decrease in net oil and gas produced, which partially resulted from the sale of producing lands in November 2025.
Current report — wording carried from elsewhere
Surface revenues increased for the six months ended June 30, 2026, as compared to the six months ended June 30, 2025, by $131,339. The increase in surface revenue was due to higher surface lease income, as well as one small right of way payment received in the current quarter.