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Mar 31, 2023
Evolution Petroleum Q3 2023 Earnings Report
Reported record quarterly results driven by increased production and higher realized prices.
Key Takeaways
Evolution Petroleum reported record Fiscal Q3 2023 results, with revenue up 9% sequentially to $36.9 million and net income up 34% sequentially to $14.0 million, driven by increased production and higher realized prices. The company also declared a quarterly cash dividend of $0.12 per common share for the fiscal 2023 fourth quarter.
Reported sequential growth in revenue of 9% to a record $36.9 million and in net income of 34% to a record $14.0 million or $0.41 per diluted share in Fiscal Q3.
Increased quarterly Adjusted Net Income by 46% sequentially and 84% YoY to $14.1 million.
Generated record Adjusted EBITDA of $22.0 million during Fiscal Q3 an increase of 34% sequentially and 78% YoY.
Produced 7,089 net barrels of oil equivalent per day in Q3.
Revenue by Segment
Forward Guidance
Evolution believes its near-term capital spending requirements will be met from cash flows from operations and current working capital.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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