Quarterly ResultMay 12, 2026, 05:12 PM
Evolution Petroleum Q3 Net Loss $(8.9)M; Adjusted EBITDA Down 58%
AI Summary
Evolution Petroleum Corporation reported a significant net loss of $(8.9) million for its fiscal third quarter ended March 31, 2026, a substantial increase from the $(2.2) million loss in the prior year. Total revenues declined 11% to $20.2 million, and Adjusted EBITDA decreased 58% to $3.1 million, primarily due to unfavorable natural gas differentials, prior-period adjustments, and realized hedge losses. The company also declared its 51st consecutive quarterly cash dividend of $0.12 per share and continued its mineral and royalty acquisition strategy, including both purchases and divestments to high-grade its portfolio.
Key Highlights
- Net loss for Q3 2026 was $(8.9) million, a 310% increase from $(2.2) million in Q3 2025.
- Adjusted EBITDA decreased 58% to $3.1 million in Q3 2026 from $7.4 million in Q3 2025.
- Total revenues decreased 11% to $20.2 million in Q3 2026 from $22.6 million in Q3 2025.
- Average daily production slightly increased to 6,700 BOEPD in Q3 2026 from 6,667 BOEPD in Q3 2025.
- Declared a $0.12 per common share cash dividend for Q4 2026, payable June 30, 2026.
- Acquired mineral and royalty interests in Louisiana for approximately $5.0 million.
- Agreed to divest non-core mineral acres for approximately $3.3 million and acquired 50 NRA for $0.5 million.
- Cash and cash equivalents were $2.6 million with $56.5 million in outstanding borrowings as of March 31, 2026.
Price Impact
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