Mexco Energy FY2023 net income $4.66M ($2.11/diluted), revenue $9.56M (+45% YoY)

MEXCO ENERGY CORP

Net income $4,662,702 ($2.11/diluted) vs $2,855,066 ($1.32) in FY2022, an increase of 63%.
Operating revenues $9,557,289, up 45% from $6,587,780, driven by 28% production increase and 12% price increase.
Participated in drilling 54 wells (50 horizontal, 4 vertical) at cost ~$4.2M; expects 26 wells drilled in FY2024 at ~$2.1M.
Cash on hand $3.27M, no bank debt; profit margin 49%, return on equity 32%.
Acquired royalty/mineral interests in ~30 wells for ~$120,000; proved reserves PV10 ~$39M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MEXCO ENERGY CORP reported the fiscal year ended March 31, 2023 results: revenue $9,557,289, net income $4,662,702, EPS $2.11 per diluted share.

Period: the fiscal year ended March 31, 2023
Revenue: $9,557,289
Net income: $4,662,702
EPS: $2.11 per diluted share
Result: reported results

Exact text from the filing

The Company reported net income of $4,662,702 or $2.11 per diluted share, for fiscal year 2023, compared to net income of $2,855,066, or $1.32 per diluted share, for fiscal 2022, an increase of 63%. Operating revenues in fiscal 2023 were $9,557,289, an increase of 45% when compared to fiscal 2022 operating revenues of $6,587,780.

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Source: SEC EDGAR

accession 0001493152-23-022514

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