Quarterly ResultMay 12, 2026, 04:57 PM
Evolution Petroleum Q3 Net Loss $(8.9M); Declares $0.12 Dividend
AI Summary
Evolution Petroleum Corporation reported a net loss of $8.9 million for its fiscal third quarter ended March 31, 2026, a significant increase from a $2.2 million net loss in the prior-year period, primarily due to unrealized losses on future period hedges. Revenues decreased 11% to $20.2 million, while average daily production saw a slight increase to 6,700 BOEPD. The company also declared its 51st consecutive quarterly cash dividend of $0.12 per common share and continued its M&A strategy with a $5.0 million acquisition in Louisiana and a $3.3 million divestment of non-core assets.
Key Highlights
- Net loss was $(8.9) million in Q3 2026, compared to $(2.2) million in Q3 2025.
- Revenues decreased 11% to $20.2 million in Q3 2026 from $22.6 million in Q3 2025.
- Adjusted EBITDA was $3.1 million in Q3 2026, down 58% from $7.4 million in Q3 2025.
- Average daily production increased slightly to 6,700 BOEPD in Q3 2026.
- Declared a $0.12 cash dividend per common share, marking the 51st consecutive quarterly payment.
- Acquired mineral and royalty interests for approximately $5.0 million in Louisiana.
- Agreed to divest non-core mineral acres for approximately $3.3 million.
- Cash and cash equivalents were $2.6 million as of March 31, 2026.