You forgot to tell us *which* text formula you are trying to use.
It sounds as if you've got at least 3 problems.
26.35 minutes is 26:21 in minutes and seconds, so if you are seeing 2.21 it
sounds as if you are treating the number as hours and minutes, rather than
minutes and seconds (so you may need another divide by 60, but it may not
matter drastically if you are giving a text output and format it
appropriately), and also you have a format like h.mm, giving 2.21 (not
giving the 24 hours from a whole day), whereas [h].mm would give you 26.21.
I would also recommend using [h]:mm instead of [h].mm, or [m]:ss instead of
[m].ss, as the colon makes it clearer that you've got hours and minutes
(like 26:21), or minutes and seconds, rather than decimal hours and decimal
minutes (26.21).