MESABI TRUST (MSB) Form 10-Q — Jun 12, 2026
Mesabi Trust reported a 70% year-over-year decline in net income to $1.09 million for the quarter ended April 30, 2026, driven by the complete elimination of bonus royalties. Although pellet shipments from Trust lands increased 42% to 906,131 tons, iron ore prices fell below the $71.70 per ton threshold required to trigger bonus payments, reducing total royalty income by $2.27 million compared to the prior year. The Trustees declared a quarterly distribution of $0.24 per unit, a 57% reduction from the $0.56 per unit paid in the same period last year.
Key figures
- Eps
- 0.0829
- Revenue
- 2245888
- Net Income
- 1087463
- Total Assets
- 21921759
- Cash Position
- 20285073
- Bonus Royalty
- 0
- Royalty Income
- 2077811
- Pellets Shipped Tons
- 906131
- Unallocated Reserve
- 18341533
- Distribution Per Unit
- 0.24
- Prior Year Bonus Royalty
- 1783835
- Prior Year Royalty Income
- 4349472
- Prior Year Pellets Shipped Tons
- 637186
- Prior Year Distribution Per Unit
- 0.56
Price after filing
Close on the filing date to close N calendar days later (from $24.69). Historical, not a forecast.
AI analysis
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