Phx Minerals Inc Down 4.83% To $3.15 After Earnings Beat

Tuesday, August 9, 2022 - Phx Minerals Inc (PHX) reported upside earnings and revenues today.

Wall Street earnings per share (EPS) projections for Phx Minerals Inc were at $0.15. The company beat those estimates with an EPS of $0.25. The earnings per share of $0.25 (which represents a -67% EPS surprise) led to the company's profits rising 600% compared to last year when the firm reported an EPS loss of $0.05 per share. The increase in Phx Minerals Inc's annual growth rate represents how the business is performing well amid recent economic conditions.

Analyst projections for Phx Minerals Inc revenue came in at a consensus of $16.8 million. Third-Quarter revenues surpassed estimates for $17.4 million by $634 thousand (4%). The company achieved 193% growth year-over-year compared to the firm's revenue of $5.9 million from the year-ago quarter. The higher earnings growth relative to revenue signals Phx Minerals Inc has improved its profit margin.

The stock is down 4.83% to $3.15 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

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

Trading in the five days leading up to the report earned Phx Minerals Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 80. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

PHX Minerals, previously Panhandle Oil & Gas, is an oil and natural gas mineral company that has employed a strategy to shift the core of its business away from drilling and toward perpetual mineral and natural gas ownership. The company owns substantial mineral acreage, principally in Oklahoma, North Dakota, Texas, New Mexico, and Arkansas, but still maintains legacy interests in natural gas and oil properties that have retired operations. The sale of natural gas, natural gas liquids, and oil continues to be the primary source of the company's revenue.