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- **Revenue Resilience**: $21.3 million despite 3% YoY decline, driven by gas price surge.
- **Strategic Expansion**: Scoop Stack minerals acquisition adds 650 locations with no capital risk.
- **Dividend Strength**: 49th consecutive payout underscores financial discipline.
- **Gas Growth**: 70% hedged natural gas at $3.50-$5.00, aligning with long-term demand trends.
- **Operational Efficiency**: TexMex LOE normalization and Chavert cost savings highlight operational adaptability.

**【CEO Summary Section】**
- **Revenue Performance**: Total revenue of $21.3 million, down 3% year-over-year due to lower oil and NGL prices, offset by a 43% increase in natural gas pricing.
- **Strategic Acquisition**: Acquired Scoop Stack minerals with 650 gross locations, requiring no future capital, enhancing long-term upside.
- **Dividend Consistency**: Declared 49th consecutive quarterly dividend of $0.12 per share, emphasizing shareholder returns.
- **Macro Outlook**: Anticipates higher oil prices due to reduced CapEx and geopolitical factors; natural gas demand growth driven by electrification and exports.

**【COO Operational Update】**
- **Scoop Stack**: 12 gross wells drilled, with 3 turned to sales and 2 in progress.
- **Chavert**: Converted 5 ESPs to rod pumps, reducing costs.
- **TexMex**: New operator completes 3 workovers under budget, with production normalization expected.
- **Delhi**: CO2 recycling resumes post-turbine repair; production stabilizing.
- **Barnett**: Stable with targeted workovers; LOE normalization underway.

**【CFO Financial Commentary】**
- **Financial Health**: Adjusted EBITDA $7.3 million, cash flow $7.8 million, supporting $4.1 million dividend return.
- **Hedging Strategy**: 70% natural gas hedged at $3.50-$5.00, protecting against price volatility.
- **Liquidity**: $11.9 million available, with $53 million borrowed under credit facility.

**【Q&A Highlights】**
- **TexMex Optimization**: New operator expects LOE normalization and production increase by Q2.
- **M&A Activity**: Actively pursuing accretive deals, focusing on minerals and gas-weighted assets.
- **West Coast Pricing**: Anticipates premium to Henry Hub due to storage constraints and colder weather.
- **CapEx Guidance**: $4-6 million for FY2026, with $1.9 million spent in Q1 on Chavert conversions.

Evolution Petroleum Corporation (EPM) Q1 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

EPM

EPM fundamentals

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