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Evolution Petroleum
🇺🇸 NYSE:EPM
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•
Dec 31, 2023

Evolution Petroleum Q2 2024 Earnings Report

Announced second quarter fiscal 2024 results and declared quarterly cash dividend.

Key Takeaways

Evolution Petroleum reported revenue of $21.0 million and net income of $1.1 million, or $0.03 per diluted share, for the second quarter of fiscal year 2024, with production at 6,304 net BOEPD and adjusted EBITDA of $6.8 million.

Announced agreement to acquire non-operated oil and natural gas assets in the SCOOP/STACK plays in Oklahoma.

Participated in the drilling and completion of the initial three wells in the Chaveroo Field.

Reported current quarter revenue of $21.0 million and net income of $1.1 million or $0.03 per diluted share.

Generated Adjusted EBITDA of $6.8 million for the current quarter.

Total Revenue
$21M
Previous year: $33.7M
-37.6%
EPS
$0.03
Previous year: $0.28
-89.3%
Gross Profit
$4.07M
Previous year: $15.2M
-73.2%
Cash and Equivalents
$8.46M
Previous year: $3.71M
+128.0%
Free Cash Flow
$3.18M
Total Assets
$126M
Previous year: $132M
-4.3%

Evolution Petroleum

Evolution Petroleum

Evolution Petroleum Revenue by Segment

Forward Guidance

The Company expects capital expenditures to be in the range of $10.0 million to $14.0 million for fiscal year 2024, excluding any potential acquisitions.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Evolution Petroleum