Evolution Petroleum Corp Down 8.40% To $5.67 After Earnings Miss

Wednesday, November 8, 2023 - Evolution Petroleum Corp (EPM) reported downside earnings and revenues today.

Analyst expectations for Evolution Petroleum Corp earnings per share (EPS) were at $0.07, with the company missing those estimates with a reported EPS of $0.04, leading to a negative surprise of $0.03 per share (-43%). Evolution Petroleum Corp's earnings were down 88% year-over-year as the firm reported an EPS of $0.32 in its year-ago quarter. The negative annual growth shows the Energy company isn't performing well amid current economic conditions.

Consensus estimates for Evolution Petroleum Corp revenue averaged out to $21.6 million, with the business missing on those expectations with reported first-quarter revenue of $20.6 million. The $979 thousand (5%) negative revenue surprise led to negative 48% growth year-over-year as the firm reported revenue of $39.8 million in its year-ago quarter. The lower earnings growth compared to revenue points to Evolution Petroleum Corp not being able to improve its profit margin.

The stock is down 8.40% to $5.67 after the report.

Evolution Petroleum Corp's profit margins took a hit as earnings fell at a faster pace than revenues.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Evolution Petroleum Corp has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 13, putting Evolution Petroleum Corp in the bottom 25% of stocks. The firm set a 52-week high on August 4, 2023 at $10.11 and set a 52-week low on March 20, 2023 at $5.39.

Evolution Petroleum Corp is an independent oil and gas company operating in the US. It is engaged primarily in the acquisition, exploitation, and development of properties for the production of crude oil and natural gas, onshore in the United States. The company's principal assets include interests in a carbon dioxide enhanced oil recovery project in Louisiana's Delhi field. Its mineral interests include Delhi Holt-Bryant Unit in the Delhi field (Unit) located in Northeast Louisiana. The revenue generated by the company includes royalty, mineral and working interests.