AMPY earnings analysis
What we found in AMPY's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Amplify reported Q2 2026 revenue of $52.686 million and diluted EPS of $0.40, with revenue improving approximately 42% sequentially and EPS recovering from a $(0.93) loss in Q1. Net income swung to $17.299 million from a $38.116 million loss, aided by 6% higher production to 6.8 MBopd, Beta royalty relief and new wells. However, the oil differential outlook worsened to $(9.00)-$(11.00)/Bbl, free cash flow was not disclosed in the provided filing extract, and the material weakness in internal controls remained unresolved as of June 30, 2026.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue rebounded sequentially
- Revenue was $52.686 million, up from $37 million in Q1 2026 but down from $68 million in Q2 2025. The sequential improvement was approximately 42%, while revenue remained approximately 23% below the prior-year quarter.
- EPS improved sharply
- Diluted EPS was $0.40 versus a $(0.93) loss in Q1 2026 and $0.15 in Q2 2025, indicating a $1.33 sequential improvement and a $0.25 year-over-year increase.
- Returned to net income
- Net income was $17.299 million versus a $38.116 million net loss in the prior quarter, a swing of $55.415 million.
- Production and Beta economics improved
- Production increased 6% sequentially to 6.8 MBopd, supported by Beta royalty relief and new wells.
- Cost outlook improved
- Management reduced lease operating expense guidance to $80.0-$95.0 million and described FY2026 Adjusted EBITDA guidance as relatively unchanged.
- Remediation remains ongoing
- The filing states disclosure controls were not effective as of June 30, 2026, because of an unresolved material weakness in internal control over financial reporting.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Unremediated control weakness
- Management stated that disclosure controls and procedures were not effective as of June 30, 2026. The material weakness, first disclosed in the 2025 Form 10-K, has not been fully remediated and could allow a material misstatement that is not prevented or detected.
- Wider oil differential outlook
- The oil differential assumption worsened to $(9.00)-$(11.00)/Bbl from $(6.00)-$(9.00)/Bbl, which could pressure realized prices and cash generation despite the sequential earnings recovery.
- Production outlook narrowed
- The filing narrowed production guidance to 7.0-7.5 MBbls/d from 6.7-7.9 MBbls/d, reducing the range of expected production and indicating greater operating uncertainty.
- Litigation exposure remains
- The filing states there have been no material changes to the risk factors disclosed in Part I, Item 1A of the 2025 Form 10-K. Future litigation related to the Incident remains uncertain and could create defense and settlement costs.
- Remediation could take longer
- The company reported no material error or misstatement from the control deficiency, but stated that remediation efforts were ongoing as of June 30, 2026 and may require additional implementation and evaluation time.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.4
What they said about what is next.
No revenue or EPS guidance was provided. FY2026 Adjusted EBITDA guidance was described as relatively unchanged. Lease operating expense guidance was reduced to $80.0-$95.0 million; production guidance was narrowed to 7.0-7.5 MBbls/d from 6.7-7.9 MBbls/d; and the oil differential assumption worsened to $(9.00)-$(11.00)/Bbl from $(6.00)-$(9.00)/Bbl.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 11, 2026
- During Q1 2026, Amplify Energy reported a significant decline in revenue, totaling $37.3 million, down from $70.3 million in Q1 2025, primarily due to substantial divestitures. The company experienced a net loss of…
- 10-K · March 9, 2026
- Amplify Energy’s 2025 10-K shows a company with very high product gross margins but weakening top-line and operating performance through the year. Quarterly revenue fell to $57.0M in 2025Q4 and operating margins swung…
- 10-Q · November 5, 2025
- Amplify Energy reported Q3 2025 total revenues of $66,396,000 and an operating loss of $26,522,000, resulting in a net loss available to common stockholders of $20,966,000 (loss per share $0.52). Operating cash flow…
- 10-Q · May 12, 2025
- Amplify Energy reported total revenues of $72,050,000 and a net loss of $5,861,000 (basic and diluted loss per share $0.15) for the quarter ended March 31, 2025. Operating cash flow improved to $25,501,000 and free cash…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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