Empire Petroleum Q2 adjusted EPS USD -0.06

Empire Petroleum Corporation reported a second-quarter adjusted earnings per share (EPS) of -$0.06 for the period ending June 30, 2026, reflecting continued financial challenges amid fluctuating commodity prices and operational adjustments. The company’s Q2 revenue totaled $9.51 million, a slight increase compared to $8.75 million in the same period of the prior year. Despite the revenue growth, the firm posted a net loss of $1.86 million, or $0.05 per share, compared to net loss of $5.06 million, or $0.15 per share, in Q2 2025.

The company’s financial performance was impacted by a 23% year-over-year decline in realized oil prices and a 15% drop in oil sales volumes, which contributed to 32% year-over-year decline in total product revenue to $8.7 million in Q2 2025. Adjusted EBITDA for Q2 2025 turned negative at ($1.2 million), down from $1.7 million in the prior-year period.

Looking ahead, Empire Petroleum is preparing for Texas drilling operations in Q4 2025 and anticipates a regulatory ruling in New Mexico in Q3 2025 that could reduce operating expenses. Management expects commodity prices to recover over the next 6–9 months, which may support improved financial performance.