Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue        
Total Revenue $ 35,653,980 $ 31,521,436 $ 64,996,152 $ 64,393,787
Expenses        
General and administrative 7,447,410 5,276,363 14,218,992 10,419,228
Depreciation and amortization 3,237,526 3,992,314 7,269,153 7,968,981
Total Expenses 35,522,736 25,971,341 63,807,008 51,229,365
Operating Income 131,244 5,550,095 1,189,144 13,164,422
Other Income (expense)        
Other income 195,678 136,023 337,491 256,565
Interest expense (4,426,351) (3,342,906) (8,830,916) (6,489,761)
Total Other Expense (4,230,673) (3,206,883) (8,493,425) (6,233,196)
Income (Loss) before income taxes (4,099,429) 2,343,212 (7,304,281) 6,931,226
Taxes        
Current tax expense 2,625 156,877 9,701 307,921
Deferred tax expense (benefit) (934,704) 16,209 (946,299) 88,422
Income tax expense (benefit), net (932,079) 173,086 (936,598) 396,343
Net Income (Loss) (3,167,350) 2,170,126 (6,367,683) 6,534,883
Less: Net income attributable to non-controlling interest 809,212 809,212 1,618,424 1,618,424
Net Income (Loss) attributable to CorEnergy Infrastructure Trust, Inc. (3,976,562) 1,360,914 (7,986,107) 4,916,459
Preferred dividend requirements 2,388,130 2,388,130 4,776,260 4,776,260
Net Income (Loss) attributable to Common Stockholders $ (6,364,692) $ (1,027,216) $ (12,762,367) $ 140,199
Net Income (Loss) Per Common Share:        
Dividends declared per share (in dollars per share) $ 0 $ 0.050 $ 0 $ 0.100
Capital Stock        
Taxes        
Net Income (Loss) attributable to Common Stockholders $ (6,093,284) $ (949,771) $ (12,216,815) $ 199,338
Weighted Average Shares of Common Stock Outstanding:        
Weighted average shares outstanding - basic (in shares) 15,350,883 14,989,942 15,311,792 14,953,754
Weighted average common shares - diluted (in shares) 15,815,840 15,454,899 15,776,749 15,460,047
Net Income (Loss) Per Common Share:        
Basic net earnings (loss) per share (in dollars per share) $ (0.40) $ (0.06) $ (0.80) $ 0.01
Diluted net earnings (loss) per share (in dollars per share) $ (0.40) $ (0.07) $ (0.81) $ 0.01
Common Stock | Class B Common Stock        
Taxes        
Net Income (Loss) attributable to Common Stockholders $ (271,408) $ (77,445) $ (545,552) $ (59,139)
Weighted Average Shares of Common Stock Outstanding:        
Weighted average shares outstanding - basic (in shares) 683,761 683,761 683,761 683,761
Weighted average common shares - diluted (in shares) 683,761 683,761 683,761 683,761
Net Income (Loss) Per Common Share:        
Basic net earnings (loss) per share (in dollars per share) $ (0.40) $ (0.11) $ (0.80) $ (0.09)
Diluted net earnings (loss) per share (in dollars per share) $ (0.40) $ (0.11) $ (0.80) $ (0.09)
Transportation and distribution        
Revenue        
Revenue from contracts with customers $ 28,540,632 $ 28,289,654 $ 57,779,747 $ 58,264,628
Expenses        
Cost of revenue 17,787,024 14,263,677 35,268,087 28,209,520
Pipeline loss allowance subsequent sales        
Revenue        
Revenue from contracts with customers 7,009,996 3,074,436 7,009,996 5,806,199
Expenses        
Cost of revenue 7,050,776 2,438,987 7,050,776 4,631,636
Lease and other revenue        
Revenue        
Revenue from contracts with customers $ 103,352 $ 157,346 $ 206,409 $ 322,960