Evolution Petroleum Q3 revenue $23M, net income $0.3M, production up 14%

EVOLUTION PETROLEUM CORP

2024-Q3 EPS reported $0.08 revenue$64,650,000

Revenue $23.0M (+10% QoQ); net income $0.3M ($0.01/diluted share) vs $1.1M prior quarter; adjusted net income $1.0M ($0.03/diluted).
Adjusted EBITDA $8.5M (+24% QoQ); production averaged 7,209 BOEPD (+14%) with highest-ever oil output of ~2,200 BOPD.
SCOOP/STACK acquisitions closed Feb 12, 2024; added ~1,550 BOEPD pro forma; 19 of 21 DUCs converted by quarter-end.
Three initial Chaveroo wells met/exceed expectations; contributed ~290 BOEPD pro forma; plan to participate in 4 more wells in fiscal Q1 2025.
Declared $0.12/sh quarterly dividend payable June 28 (record June 14); $0.8M share repurchases in Q3; FY2024 capex guidance $10-12M.

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 0.95

EVOLUTION PETROLEUM CORP reported third quarter ended March 31, 2024 results: revenue $23.0 million, net income $0.3 million, or $0.01 per diluted share.

Period: third quarter ended March 31, 2024
Revenue: $23.0 million
Net income: $0.3 million, or $0.01 per diluted share
Result: reported results

Exact text from the filing

Reported current quarter revenue of $23.0 million and net income of $0.3 million, or $0.01 per diluted share

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Source: SEC EDGAR

accession 0001544784-24-000029

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