MEXCO ENERGY CORP Q1 FY27 Results

Summary

Mexco Energy Corporation announced its financial results for the first quarter of fiscal 2027, reporting a substantial 107% year-over-year increase in net income to $501,065, or $0.24 per diluted share. Operating revenues also saw a healthy 13% rise to $1,983,169, primarily due to a significant increase in average oil prices. The company continues its strategic investment in oil and gas royalty interests with development potential, investing approximately $2.1 million in acquisitions during the quarter. Looking ahead, Mexco plans to participate in the drilling and completion of numerous horizontal wells in the upcoming fiscal year.

Key Highlights

1. 1

   Mexco Energy Corporation reported net income of $501,065, or $0.24 per diluted share, for the first quarter of fiscal 2027.

2. 2

   This represents a significant 107% increase in net income compared to $241,951, or $0.12 per diluted share, in the prior year's first quarter.

3. 3

   Operating revenues for the first quarter of fiscal 2027 reached $1,983,169, marking a 13% increase from $1,756,940 in the first quarter of fiscal 2026.

4. 4

   The revenue increase was driven by a 52% rise in average oil price, though partially offset by decreased oil and natural gas production and lower natural gas prices.

5. 5

   The company plans to participate in drilling 53 horizontal wells and completing 20 horizontal wells during fiscal year ending March 31, 2027, with an estimated cost of $1.8 million.

6. 6

   Approximately $2.1 million was invested in oil and gas royalty property acquisitions during the quarter, funded by existing cash resources.