Mexco Energy (MXC) Q1 2026 earnings summary

Executive summary

• Q1 FY2026 net income was $241,951, or $0.12 per diluted share, down from $291,039 and $0.14 a year earlier.

• Total operating revenue rose 5% to $1,814,176; oil and gas sales increased 4% to $1.755 million, while higher expenses weighed on earnings.

Financial highlights

• Operating income was $331,726 versus $375,962; basic and diluted EPS were $0.12 versus $0.14, and dividends declared per share were $0.10 in both periods.

• Operating cash flow was $1.363 million versus $1.079 million; investing used $365,910 and financing used $204,600.

• Cash was $2.547 million at June 30, 2025, versus $1.754 million at March 31; working capital was $2.923 million, up $453,019 from fiscal year-end.

• Revenue included a 49% increase in income from an LLC investment, partly offset by a 21% decline in average oil price.

Outlook and guidance

• FY2026 plans call for participation in 35 horizontal wells—34 in New Mexico’s Delaware Basin and one in Reagan County, Texas—with estimated costs of ~$1.1 million.

• A separate estimate put FY2026 drilling and completion activity, including 35 wells and completion of 17, at ~$1.2 million; ~$350,000 had been expended by the report date.

• Expected completion spending for 17 horizontal wells drilled during FY2025 was ~$150,000; additional prospects were under evaluation.

• Forward-looking plans and estimates depend on assumptions subject to change; actual results may differ materially.