NYSE$EPM
Evolution Petroleum Corporation · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported strong financial results driven by recent acquisitions and increased oil production.
Evolution Petroleum reported a net income of $0.3 million and revenue of $23.0 million for Q3 2024. The company's production increased by 14% compared to the prior quarter, driven by the SCOOP/STACK acquisitions and the Chaveroo oilfield development.
- Closed SCOOP/STACK acquisitions in February, adding ~1,550 BOEPD on a pro forma basis.
- SCOOP/STACK acquisitions added ~300 gross undeveloped locations, with 19 DUC's completed by quarter-end.
- Chaveroo oilfield initial three wells achieved peak production rates between approximately 300 and 375 gross BOEPD per well.
- Company achieved highest ever oil production of ~2,200 barrels of oil per day for the current quarter.
Headline financials
Revenue & EPS history
Evolution Petroleum · Revenue · Quarterly
$23M
Revenue by segment
Evolution Petroleum · $20.6M total across 3 segments · Q1 2024
- Crude Oil$12.6M-16.8%61.2%
- Natural Gas$5.55M-72.0%27.0%
- Natural Gas Liquids$2.43M-49.2%11.8%
Forward guidance
The company expects capital expenditures to be in the range of $10.0 million to $12.0 million for fiscal year 2024, excluding acquisitions, and believes it can fund near-term capital spending from cash flows, working capital, and borrowings.
Tailwinds
- Continued dividend payout of $0.12 per share.
- Organic growth complementing producing assets.
- Strategic approach driving success and growth.
- Disciplined and strategic approach will continue to drive success.
- Positioned for sustained growth in the future.
Headwinds
- Winter storms impacted oil production.
- Repeated downtime from rental turbine failures impacting NGL production.
- CO2 purchase pipeline was taken offline for preventative maintenance.
- Lower realized natural gas prices.
- Low marginal wells remained shut-in.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2024
-0.0%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+4.7%
Avg return
30 days after
52%
33 / 64 earnings
Positive
+15.9%
Q4 2022
Best reaction
-22.0%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -8.6% | -2.3% | -13.2% | |
| Q2 2026 | +5.5% | +9.2% | +17.3% | |
| Q1 2026 | -4.6% | -11.3% | -10.9% | |
| Q3 2025 | +2.7% | -0.4% | +11.9% | |
| Q2 2025 | -1.3% | -0.9% | -6.4% | |
| Q1 2025 | +3.2% | +5.2% | +2.0% | |
| Q4 2024 | +14.9% | +14.9% | +18.3% | |
| Q3 2024 | +1.8% | +0.2% | -3.1% | |
| Q2 2024 | +2.5% | +6.6% | +13.2% | |
| Q1 2024 | -7.0% | -7.5% | -3.7% | |
| Q4 2023 | -22.0% | -20.6% | -29.0% | |
| Q3 2023 | +9.9% | +8.7% | +31.3% | |
| Q2 2023 | +3.8% | +8.6% | +9.0% | |
| Q1 2023 | -10.2% | -5.6% | -19.4% | |
| Q4 2022 | +15.9% | +15.0% | +13.6% | |
| Q3 2022 | +0.5% | -1.3% | +12.5% | |
| Q2 2022 | +8.6% | +24.3% | +32.0% | |
| Q1 2022 | -3.4% | -5.5% | -15.3% | |
| Q4 2021 | -0.2% | +3.2% | +30.7% | |
| Q3 2021 | -3.9% | -4.7% | +26.6% | |
| Q2 2021 | +2.9% | +0.0% | +25.0% | |
| Q1 2021 | -1.8% | +8.2% | +35.6% | |
| Q4 2020 | -0.4% | -5.3% | -17.0% | |
| Q3 2020 | -12.6% | -8.7% | -3.5% | |
| Q2 2020 | -2.4% | -6.7% | -9.1% | |
| Q1 2020 | +0.2% | -0.2% | -8.4% | |
| Q4 2019 | +2.4% | -5.1% | -12.7% | |
| Q3 2019 | +1.4% | -1.0% | -9.9% | |
| Q2 2019 | -1.7% | +0.8% | -5.8% | |
| Q1 2019 | +1.4% | -4.1% | -16.6% | |
| Q4 2018 | -0.5% | +3.6% | +12.8% | |
| Q3 2018 | -0.5% | -3.3% | +6.0% | |
| Q2 2018 | +7.4% | +11.5% | +10.1% | |
| Q1 2018 | +5.0% | +4.3% | -2.9% | |
| Q4 2017 | +0.0% | -1.4% | +2.2% | |
| Q3 2017 | +1.4% | +9.7% | +2.8% | |
| Q2 2017 | -6.8% | -1.9% | +0.6% | |
| Q1 2017 | +6.2% | +15.9% | +29.0% | |
| Q4 2016 | +6.4% | +3.6% | +27.8% | |
| Q3 2016 | -2.3% | — | — | |
| Q2 2016 | +6.5% | — | — | |
| Q1 2016 | -3.6% | — | — | |
| Q4 2015 | +8.7% | — | — | |
| Q3 2015 | -4.3% | — | — | |
| Q2 2015 | -9.5% | — | — | |
| Q1 2015 | -1.0% | — | — | |
| Q4 2014 | +1.5% | — | — | |
| Q3 2014 | -5.1% | — | — | |
| Q2 2014 | -2.1% | — | — | |
| Q1 2014 | +3.5% | — | — | |
| Q4 2013 | +2.3% | — | — | |
| Q3 2013 | +1.6% | — | — | |
| Q2 2013 | +2.3% | — | — | |
| Q1 2013 | +0.2% | — | — | |
| Q4 2012 | +2.0% | — | — | |
| Q4 2010 | +2.0% | — | — | |
| Q3 2012 | +3.3% | — | — | |
| Q2 2012 | -3.2% | — | — | |
| Q2 2011 | -3.2% | — | — | |
| Q1 2011 | -4.7% | — | — | |
| Q4 2011 | -4.7% | — | — | |
| Q1 2012 | -4.7% | — | — | |
| Q3 2011 | +1.6% | — | — | |
| Q3 2010 | -3.9% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro