Mexco Energy Q3 net income rises 28% sequentially to $345,610; nine-month net income down 71% YoY

MEXCO ENERGY CORP

2024-Q3 EPS reported $0.50 revenue$4,811,472

Net income for Q3 fiscal 2024 (Dec 31, 2023) was $345,610 ($0.16/diluted), up 28% from Q2 fiscal 2024's $269,433.
Nine-month net income fell 71% YoY to $1,080,657 ($0.50/diluted); operating revenues decreased 35% to $4,811,472.
Average oil price nine months $77.06/bbl (down 18% YoY), natural gas $2.12/Mcf (down 66% YoY); BOE production down 2%.
Cash on hand $3.4M, no bank debt; plans to participate in 49 wells (45 in Delaware Basin) with estimated cost $2.2M for fiscal year.
Spent $450,000 on completion costs for 21 DUC wells in Lea County, NM; 20 wells producing since Oct 2023 at avg 1,437 BOE/day/well.

item 2.02 item 8.01 item 9.01

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 nine months ended December 31, 2023 results: revenue $4,811,472, net income $1,080,657, EPS $0.50 per diluted share.

Period: nine months ended December 31, 2023
Revenue: $4,811,472
Net income: $1,080,657
EPS: $0.50 per diluted share
Result: reported results

Exact text from the filing

Net income for the nine months ending December 31, 2023 was $1,080,657, or $0.50 per diluted share, a decrease of 71% compared with the same nine-month period of fiscal 2023. Operating revenues in the first nine months of fiscal 2024 decreased 35% to $4,811,472.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MEXCO ENERGY CORP reported third quarter of fiscal 2024 results: revenue $1,656,443, net income $345,610, EPS $0.16 per diluted share.

Period: third quarter of fiscal 2024
Revenue: $1,656,443
Net income: $345,610
EPS: $0.16 per diluted share
Result: reported results

Exact text from the filing

Mexco Energy Corporation (NYSE American: MXC) today reported net income of $345,610, or $0.16 per diluted share, for the Company’s third quarter of fiscal 2024, an increase of 28% compared to $269,433, or $0.12 per diluted share, for the second quarter of fiscal 2024. Operating revenues in the third quarter of fiscal 2024 were $1,656,443.

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Source: SEC EDGAR

accession 0001493152-24-005546

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