MEXCO ENERGY CORP Q2 FY27 Results

Summary

Mexco Energy Corporation reported a significant 67% increase in net income for the first six months of fiscal 2027, reaching $945,152, with diluted earnings per share rising to $0.45. Operating revenues also saw a healthy 21% increase, totaling $4,102,157, largely due to a substantial rise in average oil prices. The company continues its investment strategy, acquiring oil and gas royalty interests, and plans to participate in drilling and completing numerous horizontal wells in the current fiscal year.

Key Highlights

1. 1

   Net income for the first six months ended September 30, 2026, was $945,152, a 67% increase compared to $565,457 in the prior year period.

2. 2

   Diluted earnings per share rose to $0.45 for the first six months of fiscal 2027, up from $0.27 in the comparable period of fiscal 2026.

3. 3

   Operating revenues for the first six months of fiscal 2027 reached $4,102,157, an increase of 21% from $3,386,580 in the first six months of fiscal 2026.

4. 4

   The increase in operating revenues was primarily driven by a 43% rise in average oil prices, despite a 23% decrease in average natural gas prices and a 7% dip in oil production.

5. 5

   The Company expects to participate in drilling 55 horizontal wells and completing 20 horizontal wells for an estimated aggregate cost of approximately $1.8 million during fiscal year ending March 31, 2027.

6. 6

   Approximately $900,000 of the estimated $1.8 million drilling and completion cost has been expended to date for fiscal year ending March 31, 2027.