Mexco Energy Corporation (MXC) Reports Q2 EPS of $0.59

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Go back to Mexco Energy Corporation (MXC) Reports Q2 EPS of $0.59

Mexco Energy Corporation Reports Financial Results for First Quarter

August 15, 2022 6:15 AM EDT

MIDLAND, TX, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) today reported net income of $1,298,672, or $0.59 per diluted share, for the quarter ending June 30, 2022, the Companys first quarter of fiscal 2023, an increase of 340% versus $395,006 or $0.19 per diluted share, for the comparable quarter ending June 30, 2021.

Operating revenues in the first quarter of fiscal 2023 increased 94% to $2,449,973 from $1,264,198 for the first quarter of fiscal 2022. This increase resulted from an 18% increase in barrels of oil equivalent (BOE) production volumes as well as the average sales price of oil and natural gas for... More