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Evolution Petroleum (EPM) investor relations material
Evolution Petroleum Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary12 Nov, 2025
Executive summary
Entered fiscal 2026 in a strong position, completing the largest minerals and royalties acquisition in the SCOOP/STACK region, expanding exposure to high-quality reserves with minimal operating expenses and no future capital commitments.
Net income for Q1 2026 was $0.8 million ($0.02 per diluted share), down from $2.1 million ($0.06 per share) year-over-year, primarily due to lower crude oil and NGL prices and higher operating costs, partially offset by higher natural gas prices and realized derivative gains.
Revenues totaled $21.3 million, a 2.8% decrease year-over-year, with crude oil revenue declining 12.7% and NGL revenue down 12.5%, while natural gas revenue increased 37.7%.
Maintained a strong financial foundation with ample liquidity, low leverage, and a recent credit facility expansion.
Declared 49th consecutive quarterly cash dividend ($0.12/share), totaling $139 million returned to shareholders since 2013.
Financial highlights
Q1 2026 total revenue was $21.3 million, down from $21.9 million year-over-year, but up sequentially from Q4.
Adjusted EBITDA was $7.3 million, down from $8.1 million year-over-year, reflecting lower oil/NGL prices and higher lease operating costs.
Cash provided by operating activities increased to $7.8 million from $7.6 million year-over-year.
Lease operating costs per BOE increased to $19.45 from $17.15 year-over-year.
Capital expenditures for drilling and completion were $1.9 million.
Outlook and guidance
Fiscal 2026 capital expenditures are budgeted at $4–6 million, with about a third spent in Q1, and plans to bring five new wells online at SCOOP/STACK.
Expect production to increase and operating costs per barrel to decrease at Tex-Mex as optimization progresses.
Full-year production outlook is flattish versus fiscal 2025, with puts and takes depending on development activity, especially in SCOOP/STACK.
Dividend policy remains focused on sustainability for multiple years.
Flexibility in capital allocation allows for drilling during high commodity prices and acquisitions during low prices.
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Next Evolution Petroleum earnings date
Q2 202611 Feb, 2026
Next Evolution Petroleum earnings date
Q2 202611 Feb, 2026
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Frequently asked questions
Evolution Petroleum Corporation, an oil and natural gas company, engages in the development, production, ownership, and management of oil and gas properties in the United States. The company primarily holds interests in three projects located in Louisiana, Texas, and Mississippi and operations in California. Its properties include Delhi field of northeast Louisiana; The Company's helium-focused property is Heliopolis SUGAR Field, a high-Btu natural gas/helium field located onshore in east Texas; and Marion County field situated in Southwest Mississippi. Evolution Petroleum Corporation was founded in 2003 and is based in Houston, Texas.
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