EPM earnings analysis
What we found in EPM'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
Evolution Petroleum's Q3 2026 results revealed a decline in revenue to $20.2 million, a 10.6% drop from the prior year, and a diluted EPS of -$0.09, missing analyst expectations. Management highlighted challenges including increased operational costs and significant unrealized losses on derivative contracts, while emphasizing potential revenue growth from new well productions expected in Q4.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Total revenue decreased to $20.2 million, down 10.6% from $22.6 million a year earlier.
- EPS Misses Expectations
- EPS reported at -$0.09, against an estimated EPS of $0.02.
- Increased Cash Dividend
- Management declared a quarterly dividend of $0.12 per share, its 51st consecutive payout.
- Rising Operating Costs
- Total operating costs rose due to increased lease operating costs and depreciation, impacting margins.
- Acquisition of New Wells
- Management anticipates revenue boost from production of 23 newly acquired wells.
- Working Capital Deficit
- Working capital deficit widened to $10.6 million from $4.0 million in the prior quarter.
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.
- Unrealized Losses on Derivatives
- Losses on derivative contracts amounted to $9.87 million, impacting overall profitability.
- Operational Downtime Concerns
- Production was affected by ice storms and power outages in January 2026, contributing to lower output.
- Reduced Commodity Prices
- Average realized crude oil price fell to $59.18 per barrel, down 13.5% from the previous year.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.09
What they said about what is next.
The company expects significant cash flow generation from newly connected wells in the upcoming quarter.
The filing reads worse than the one before it.
What came before.
- 10-Q · February 11, 2026
- Evolution reported mixed Q2 results: total revenues of $20,679,000 and net income of $1,065,000 (diluted EPS $0.03), an improvement versus the prior-year quarter. Natural gas revenues drove product mix gains while…
- 10-Q · November 12, 2025
- Evolution reported total revenues of $21,288,000 for the three months ended September 30, 2025, down $608,000 versus $21,896,000 a year earlier, while net income fell to $824,000 (diluted EPS $0.02) from $2,065,000…
- 10-K · September 17, 2025
- Evolution (EPM) continues its conservative, dividend-focused E&P strategy while growing via targeted non‑operated acquisitions: the filing discloses a $17.0 million SCOOP/STACK minerals purchase (effective May 1, 2025)…
- 10-Q · November 13, 2024
- Evolution reported quarterly revenue of $21,896,000 and diluted EPS of $0.06 for the three months ended September 30, 2024, up versus the prior-year quarter. Operating income was $1,854,000 (≈8.5% operating margin)…
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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