Quarterly ResultAug 12, 2026, 04:58 PM
Mexco Energy Q1 Net Income +107% to $501K; EPS $0.24
AI Summary
Mexco Energy Corporation reported strong financial results for its first quarter of fiscal year 2027, with net income increasing by 107% to $501,065, or $0.24 per diluted share, compared to the same period last year. Operating revenues also grew by 13% to $1,983,169, primarily driven by a significant increase in average oil prices. The company continued its investment strategy, expending $2.1 million on oil and gas royalty property acquisitions and planning further participation in drilling and completion of 73 horizontal wells with an estimated aggregate cost of $1.8 million for the fiscal year.
Key Highlights
- Net income for Q1 FY2027 increased 107% to $501,065 ($0.24 per diluted share) from $241,951 ($0.12 per diluted share) in Q1 FY2026.
- Operating revenues for Q1 FY2027 rose 13% to $1,983,169 from $1,756,940 in Q1 FY2026.
- The revenue increase was primarily due to a 52% increase in average oil price.
- Oil production decreased by 15% and natural gas production decreased by 9%.
- The company expects to participate in drilling 53 horizontal wells and completing 20 horizontal wells at an estimated cost of $1.8 million in FY2027.
- Approximately $620,000 has been expended on well development to date in FY2027.
- Mexco Energy invested approximately $2.1 million in oil and gas royalty property acquisitions during the quarter, funded from existing cash.
Price Impact
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