$PHX
PHX MINERALS INC.

2019 Q3 Form 10-Q Financial Statement

#000156459019030833 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q2
Revenue $15.73M $16.34M $9.558M
YoY Change 36.0% 70.98% -23.15%
Cost Of Revenue $3.580M $3.640M $3.720M
YoY Change -10.5% -2.15% -1.59%
Gross Profit $5.210M $6.370M $7.970M
YoY Change -38.92% -20.08% 13.21%
Gross Profit Margin 33.13% 38.98% 83.39%
Selling, General & Admin $2.680M $1.810M $1.590M
YoY Change 28.23% 13.84% -11.67%
% of Gross Profit 51.44% 28.41% 19.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.380M $4.383M $4.620M
YoY Change 49.77% -5.12% -2.01%
% of Gross Profit 122.46% 68.81% 57.96%
Operating Expenses $85.89M $6.190M $6.210M
YoY Change 1252.6% -0.32% -4.61%
Operating Profit -$80.68M $180.0K $1.760M
YoY Change -3800.92% -89.77% 232.08%
Interest Expense $640.0K $526.7K -$2.550M
YoY Change -145.07% -120.65% -932.9%
% of Operating Profit 292.6% -144.89%
Other Income/Expense, Net
YoY Change
Pretax Income -$74.39M $5.919M -$984.1K
YoY Change -9892.81% -701.49% -153.84%
Income Tax -$18.24M $1.315M -$209.0K
% Of Pretax Income 22.22%
Net Earnings -$56.15M $4.604M -$775.1K
YoY Change -10206.02% -694.02% -161.48%
Net Earnings / Revenue -357.03% 28.17% -8.11%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.297M $278.5K -$46.48K
COMMON SHARES
Basic Shares Outstanding 16.39M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.200M $1.500M $500.0K
YoY Change 1140.0% 200.0% -16.67%
Cash & Equivalents $6.161M $1.530M $477.0K
Short-Term Investments
Other Short-Term Assets $177.0K $1.438M $200.0K
YoY Change -69.42% 619.07% -85.71%
Inventory
Prepaid Expenses
Receivables $4.378M $5.504M $6.500M
Other Receivables $1.500M $500.0K $200.0K
Total Short-Term Assets $14.48M $11.47M $7.400M
YoY Change 75.57% 55.03% -13.95%
LONG-TERM ASSETS
Property, Plant & Equipment $111.7M $194.7M $189.0M
YoY Change -43.67% 3.02% -3.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $200.0K $200.0K $200.0K
YoY Change 0.0% 0.0% 0.0%
Other Assets $297.9K $200.0K
YoY Change
Total Long-Term Assets $112.2M $195.1M $189.1M
YoY Change -43.49% 3.19% -3.96%
TOTAL ASSETS
Total Short-Term Assets $14.48M $11.47M $7.400M
Total Long-Term Assets $112.2M $195.1M $189.1M
Total Assets $126.6M $206.6M $196.5M
YoY Change -38.74% 5.14% -4.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $665.2K $563.6K $1.200M
YoY Change -24.51% -53.03% -68.42%
Accrued Expenses $2.400M $1.900M $1.600M
YoY Change 33.33% 18.75% -11.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.099M $2.444M $5.700M
YoY Change -45.99% -57.13% 3.64%
LONG-TERM LIABILITIES
Long-Term Debt $35.43M $41.50M $40.40M
YoY Change -30.54% 2.72% -19.2%
Other Long-Term Liabilities $2.800M $2.900M $3.100M
YoY Change -12.5% -6.45% 0.0%
Total Long-Term Liabilities $35.43M $41.50M $43.50M
YoY Change -30.54% -4.6% -18.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.099M $2.444M $5.700M
Total Long-Term Liabilities $35.43M $41.50M $43.50M
Total Liabilities $38.52M $43.94M $67.30M
YoY Change -32.1% -34.7% -24.8%
SHAREHOLDERS EQUITY
Retained Earnings $81.85M $138.7M
YoY Change -34.66%
Common Stock $3.249M $3.219M
YoY Change 4.61%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.344M $7.863M
YoY Change 226.15%
Treasury Stock Shares $558.1K $508.6K
Shareholders Equity $79.31M $136.5M $129.2M
YoY Change
Total Liabilities & Shareholders Equity $126.6M $206.6M $196.5M
YoY Change -38.74% 5.14% -4.37%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$56.15M $4.604M -$775.1K
YoY Change -10206.02% -694.02% -161.48%
Depreciation, Depletion And Amortization $6.380M $4.383M $4.620M
YoY Change 49.77% -5.12% -2.01%
Cash From Operating Activities $6.680M $5.270M $6.300M
YoY Change 26.52% -16.35% 26.76%
INVESTING ACTIVITIES
Capital Expenditures -$180.0K $810.0K -$1.200M
YoY Change -95.32% -167.5% -88.34%
Acquisitions
YoY Change
Other Investing Activities $5.860M $700.0K -$1.020M
YoY Change -156.56% -168.63%
Cash From Investing Activities $5.690M $1.510M -$2.210M
YoY Change -140.04% -168.33% -78.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.720M -5.760M -3.780M
YoY Change -185.97% 52.38% -170.92%
NET CHANGE
Cash From Operating Activities 6.680M 5.270M 6.300M
Cash From Investing Activities 5.690M 1.510M -2.210M
Cash From Financing Activities -7.720M -5.760M -3.780M
Net Change In Cash 4.650M 1.020M 310.0K
YoY Change 9200.0% 229.03% 3000.0%
FREE CASH FLOW
Cash From Operating Activities $6.680M $5.270M $6.300M
Capital Expenditures -$180.0K $810.0K -$1.200M
Free Cash Flow $6.860M $4.460M $7.500M
YoY Change -24.86% -40.53% -50.85%

Facts In Submission

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us-gaap Gain Loss On Sale Of Oil And Gas Property
GainLossOnSaleOfOilAndGasProperty
-660597
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
197820
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
233573
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
6125525
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
-3819639
us-gaap Restricted Stock Expense
RestrictedStockExpense
501626
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-15848
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-5113
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1597667
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1095996
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
859258
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-77124
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3270
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-125261
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
476846
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-279975
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-6949
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
52644
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
86467
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-130284
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-1075891
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
7577880
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14332951
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21657902
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
3349640
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
7743097
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5120466
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
966279
phx Proceeds From Payment To Acquire Investments In Partnerships
ProceedsFromPaymentToAcquireInvestmentsInPartnerships
-1648
phx Proceeds From Payment To Acquire Investments In Partnerships
ProceedsFromPaymentToAcquireInvestmentsInPartnerships
3379
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
13114969
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
1085137
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4643215
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7620860
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
15053345
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
13529879
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
24553345
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
25352099
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6465186
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
272100
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2013005
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2023500
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17978191
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14117820
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
997975
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-80778
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
532502
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
557791
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1530477
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
477013
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
27782
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
15452
phx Payments To Acquire Oil And Gas Property And Equipment Gross
PaymentsToAcquireOilAndGasPropertyAndEquipmentGross
8149347
phx Payments To Acquire Oil And Gas Property And Equipment Gross
PaymentsToAcquireOilAndGasPropertyAndEquipmentGross
8150830
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
8470106
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9782337
us-gaap Revenue Practical Expedient Financing Component
RevenuePracticalExpedientFinancingComponent
true
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.24
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-11.38
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.22
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.21
CY2019Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2500000
CY2019Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
159911
CY2018Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
153788
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
765808
phx Computation Of Oil Natural Gas And Ngl Reserves
ComputationOfOilNaturalGasAndNglReserves
P12M
CY2019Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2018Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2018Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
3414016
CY2019Q2 us-gaap Derivative Assets
DerivativeAssets
2711509
phx Net Cash Paid On Derivatives Settled
NetCashPaidOnDerivativesSettled
1099402
phx Net Cash Paid On Derivatives Settled
NetCashPaidOnDerivativesSettled
147230
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2552237
CY2018Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
42150
CY2019Q2 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralCurrent
62864
CY2018Q3 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralCurrent
42150
CY2019Q2 phx Derivative Asset Fair Value Gross Non Current Asset
DerivativeAssetFairValueGrossNonCurrentAsset
222136
CY2019Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
62864
CY2018Q3 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
3106196
CY2019Q2 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralCurrent
62864
CY2018Q3 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralCurrent
42150
CY2018Q3 phx Derivative Liabilities Fair Value Gross Non Current Liabilities
DerivativeLiabilitiesFairValueGrossNonCurrentLiabilities
349970

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