Sitio Royalties Corp. announced strong first-quarter 2025 operational and financial results, with total average daily production reaching 42,136 Boe/d, exceeding the high end of its full-year guidance range. The company reported a consolidated net income of $26.3 million, marking a 41% increase compared to the first quarter of 2024, driven by an 18% year-over-year production increase.
Adjusted EBITDA for the quarter was $142.2 million, up 5% from the prior year, reflecting efficient operations. Sitio's Board of Directors declared a cash dividend of $0.35 per share for the first quarter, contributing to a total return of capital of $0.50 per share, which also included $0.15 per share in common stock repurchases.
A significant development was the extension of the share repurchase program with an additional $300 million authorization, bringing the total authorization to $500 million, with approximately $350 million remaining as of early May 2025. The company repurchased 1.1 million shares in Q1 2025 at an average price of $20.19 per share, demonstrating its commitment to shareholder value and confidence in its assets.
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