Evolution Petroleum announced its fiscal first quarter results, highlighted by a 67% increase in total revenues to $5.6 million compared to the prior quarter. The company generated operational cash flows exceeding the quarterly dividend and maintained a debt-free balance sheet with $19.8 million in cash. A non-cash impairment of $9.6 million was recorded due to decreased oil prices.
Paid 28th consecutive quarterly cash dividend and declared the next dividend payment of $0.025 per share.
Total revenues increased by 67% to $5.6 million compared to the prior quarter.
Generated operational cash flows in excess of quarterly dividend and ended the quarter with $19.8 million in cash, remaining debt-free.
Denbury Resources emerged from Chapter 11 bankruptcy.
The Company expects near-term volatility in crude oil prices and is prepared for potentially depressed prices. They anticipate Phase V development and conformance work during 2021, and they completed their annual fall redetermination and extended their credit facility.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance