$EPM
EVOLUTION PETROLEUM CORP

2023 Q1 Form 10-Q Financial Statement

#000155837023001024 Filed on February 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $36.87M $33.68M
YoY Change 43.51% 50.75%
Cost Of Revenue $13.57M $15.04M
YoY Change 12.3% 40.95%
Gross Profit $23.30M $18.64M
YoY Change 71.23% 59.72%
Gross Profit Margin 63.19% 55.34%
Selling, General & Admin $2.267M $2.581M
YoY Change 49.61% 41.56%
% of Gross Profit 9.73% 13.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.383M $3.458M
YoY Change 94.74% 182.58%
% of Gross Profit 14.52% 18.56%
Operating Expenses $5.650M $6.039M
YoY Change 73.71% 98.2%
Operating Profit $17.65M $12.60M
YoY Change 70.45% 46.12%
Interest Expense $32.00K $129.0K
YoY Change -81.21% 153.29%
% of Operating Profit 0.18% 1.02%
Other Income/Expense, Net
YoY Change
Pretax Income $17.90M $13.32M
YoY Change 135.71% 55.3%
Income Tax $3.941M $2.933M
% Of Pretax Income 22.02% 22.02%
Net Earnings $13.96M $10.39M
YoY Change 144.61% 52.03%
Net Earnings / Revenue 37.86% 30.84%
Basic Earnings Per Share $0.42 $0.31
Diluted Earnings Per Share $0.41 $0.31
COMMON SHARES
Basic Shares Outstanding 33.72M 33.72M
Diluted Shares Outstanding 33.16M 33.39M

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.39M $3.710M
YoY Change 37.54% -72.71%
Cash & Equivalents $18.39M $3.710M
Short-Term Investments
Other Short-Term Assets $2.418M $1.805M
YoY Change 245.42% 111.7%
Inventory
Prepaid Expenses
Receivables $9.853M $18.21M
Other Receivables $347.0K $347.0K
Total Short-Term Assets $31.01M $24.08M
YoY Change -3.52% -23.22%
LONG-TERM ASSETS
Property, Plant & Equipment $105.5M $106.4M
YoY Change 27.79% 90.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.353M $1.358M
YoY Change -7.96%
Total Long-Term Assets $106.7M $107.6M
YoY Change 26.88% 92.79%
TOTAL ASSETS
Total Short-Term Assets $31.01M $24.08M
Total Long-Term Assets $106.7M $107.6M
Total Assets $137.7M $131.7M
YoY Change 18.47% 51.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.735M $10.09M
YoY Change -34.29% 23.23%
Accrued Expenses $9.429M $9.883M
YoY Change 941.14% 754.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.32M $21.17M
YoY Change 21.13% 126.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $14.73M $14.60M
YoY Change 77.19% 153.34%
Total Long-Term Liabilities $14.73M $14.60M
YoY Change -47.98% 49.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.32M $21.17M
Total Long-Term Liabilities $14.73M $14.60M
Total Liabilities $42.05M $42.52M
YoY Change -18.27% 69.85%
SHAREHOLDERS EQUITY
Retained Earnings $55.79M $45.86M
YoY Change 161.25% 141.05%
Common Stock $33.00K $34.00K
YoY Change -2.13% 0.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $95.62M $89.14M
YoY Change
Total Liabilities & Shareholders Equity $137.7M $131.7M
YoY Change 18.47% 51.05%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $13.96M $10.39M
YoY Change 144.61% 52.03%
Depreciation, Depletion And Amortization $3.383M $3.458M
YoY Change 94.74% 182.58%
Cash From Operating Activities $23.95M $10.40M
YoY Change 61.85% 25.34%
INVESTING ACTIVITIES
Capital Expenditures $1.348M $1.038M
YoY Change -105.16% -863.74%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.348M -$1.038M
YoY Change -95.12% 663.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.925M -16.37M
YoY Change -162.96% 548.99%
NET CHANGE
Cash From Operating Activities 23.95M 10.40M
Cash From Investing Activities -1.348M -1.038M
Cash From Financing Activities -7.925M -16.37M
Net Change In Cash 14.68M -7.004M
YoY Change -6520.1% -224.13%
FREE CASH FLOW
Cash From Operating Activities $23.95M $10.40M
Capital Expenditures $1.348M $1.038M
Free Cash Flow $22.60M $9.366M
YoY Change -44.79% 11.02%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates. </span>  The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities, if any, at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Significant estimates include (a) reserve quantities and estimated future cash flows associated with proved reserves, which may significantly impact depletion expense and potential impairments of oil and natural gas properties, (b) asset retirement obligations, (c) stock-based compensation, (d) fair values of derivative contract assets and liabilities, (e) income taxes </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">and the valuation of deferred income tax assets, (f) commitments and contingencies, and (g) accruals of crude oil, natural gas, and natural gas liquids (“NGL”) revenues and expenses. The Company analyzes estimates and judgements based on historical experience and various other assumptions and information that are believed to be reasonable. Estimates and assumptions about future events and their effects cannot be predicted with certainty and, accordingly, these estimates may change as additional information is obtained, as new events occur, and as the Company’s environment changes. Actual results may differ from the estimates and assumptions used in the preparation of the Company’s unaudited condensed consolidated financial statements.</p>
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epm-20221231_cal.xml Edgar Link unprocessable
epm-20221231_def.xml Edgar Link unprocessable
epm-20221231_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable