Evolution Petroleum Corporation (EPM) Q4 2024 Earnings Report

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Evolution Petroleum

EPM

$4.21 0.48%

Exchange: AMEX | Sector: Energy | Industry: Oil Gas Exploration Production

Q4 2024

Published: Sep 11, 2024

Earnings Highlights

Revenue of $21.23M up 16.8% year-over-year
EPS of $0.04 increased by 967.6% from previous year
Gross margin of 28.1%
Net income of 1.24M
""Delhi has been certified as a carbon capture, utilization and storage site for enhanced oil recovery, which we believe will drive further benefits to evolution."" - Kelly Loyd

EPM

Company EPM

Period Q4 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

Evolution Petroleum reported a resilient QQ4 2024 performance amid a low natural gas pricing environment, underpinned by higher liquids revenue and a diversified asset base. In the quarter, total revenue reached $21.2 million, up 17% year-over-year, with net income of $1.24 million and adjusted EBITDA of $8.0 million. Operating metrics improved as production rose 11% year-over-year to 7,209 net BOE/d, driven by ongoing SCOOP/STACK activity and the Chaveroo developments, partially offset by weaker natural gas pricing and downtime at Delhi.

Key Performance Indicators

Revenue

Increasing

21.23M

QoQ: -7.81% | YoY: 16.80%

Gross Profit

Increasing

5.97M

28.14% margin

QoQ: 32.73% | YoY: 136.88%

Operating Income

Increasing

2.40M

QoQ: 15.31% | YoY: 827.80%

Net Income

Increasing

1.24M

QoQ: 327.34% | YoY: 643.98%

EPS

Increasing

0.04

QoQ: 359.30% | YoY: 967.57%

Revenue Trend

Margin Analysis

Financial Highlights

Key QQ4 2024 metrics and cadence:
- Revenue: $21.2 million; YoY +17% (QoQ not disclosed in release)
- Gross Profit: $5.97 million; gross margin 28.1%
- EBITDA: $7.66 million; EBITDA margin 36.1%
- Operating Income: $2.40 million; margin 11.3%
- Net Income: $1.24 million; net margin 5.8%
- EPS (GAAP): $0.0395; Diluted EPS: $0.0401
- Production: 7,209 boe/d (Jan–Jun period ending 2024); Oil +20%, NGL +17%, Gas +5% YoY
- Cash Flow: Operating cash flow = $7.99 million; Capex = $2.51 million; Free cash flow (reported) = $10.50 million
- Balance sheet: Cash $6.45 million; debt $39.5 million; net debt $33.21 million; Total assets $162.88 million; Total liabilities $81.75 million; Stockholders’ equity $81.13 million
- Liquidity/Leverage: Current ratio 1.37; debt-to-capitalization 0.328; interest coverage 2.75; hedging program maintained
- Dividend: $0.12 per share declared for September 2024 (44th consecutive quarterly dividend)

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	21.23M	16.80%	-7.81%
Gross Profit	5.97M	136.88%	32.73%
Operating Income	2.40M	827.80%	15.31%
Net Income	1.24M	643.98%	327.34%
EPS	0.04	967.57%	359.30%

Key Financial Ratios

Gross Profit Margin

Fair

28.10%

Gross profit margin is moderate, room for improvement in cost management

Operating Profit Margin

Fair

11.30%

Operating margin is moderate, room for improvement in cost management

Net Profit Margin

Fair

5.82%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

0.76%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

1.52%

Return on equity suggests inefficient capital allocation

Current Ratio

Adequate

1.37

Current ratio meets minimum requirements but limited cushion

Debt to Equity

Moderate

0.49

Debt-to-equity indicates balanced capital structure with manageable debt

P/E Ratio

Growth

36.12x

Elevated P/E suggests growth expectations or premium valuation

Price to Book

Fair Value

2.20x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2026	21.29	0.02	+0.3%	View
Q3 2025	22.56	-0.07	-2.0%	View
Q2 2025	20.28	-0.06	-3.6%	View
Q1 2025	21.90	0.06	+6.3%	View
Q4 2024	21.23	0.04	+16.8%	View

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Evolution Petroleum (EPM) Q4 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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