Mexco Energy Corporation Reports Financial Results for First Quarter

Mexco Energy (NYSE American: MXC) reported net income of $501,065, or $0.24 per diluted share, for the quarter ended June 30, 2026, its first quarter of fiscal 2027, up from $241,951, or $0.12 per share, a 107% increase year over year.

Rhea-AI Summary

Mexco Energy (NYSE American: MXC) reported net income of $501,065, or $0.24 per diluted share, for the quarter ended June 30, 2026, its first quarter of fiscal 2027, up from $241,951, or $0.12 per share, a 107% increase year over year.

Operating revenues were $1,983,169, a 13% rise from $1,756,940 in the prior-year quarter. According to the company, the revenue increase was mainly driven by a 52% increase in average oil price, partly offset by a 15% decline in oil production, a 9% decline in natural gas production, and a 49% drop in average natural gas price.

For the fiscal year ending March 31, 2027, Mexco expects to participate in drilling 53 horizontal wells and completing 20 horizontal wells at an estimated aggregate cost of about $1.8 million, of which approximately $620,000 has been spent. The company also invested about $2.1 million in oil and gas royalty property acquisitions during the quarter, funded from existing cash resources.

Positive

• Net income increased 107% YoY to $501,065 in Q1 fiscal 2027
• Earnings per diluted share rose to $0.24 from $0.12 YoY
• Operating revenues grew 13% YoY to $1,983,169
• Average oil price realized increased 52% versus prior-year quarter
• Planned drilling and completions budget of $1.8 million for fiscal 2027
• Invested approximately $2.1 million in royalty property acquisitions funded from cash

Negative

• Oil production volume decreased 15% versus prior-year quarter
• Natural gas production volume decreased 9% year over year
• Average natural gas price declined 49% compared with prior-year quarter

Argus Aug 13 session

-3.33% close to close Open Argus

Details

News Market Reaction – MXC

On Aug 13, the first trading day after this news, MXC closed 3.33% below the previous close.

Data tracked by StockTitan Argus for the Aug 13 session.

Market Context

MXC’s tag-specific earnings history averaged -3.41% across five events. That record frames this quar...

Analysis

MXC’s tag-specific earnings history averaged -3.41% across five events. That record frames this quarter’s stronger results alongside oil-price and production sensitivity; operating trends beyond the reported price-driven improvement warrant attention.

Key Figures

Net income: $501,065 Diluted EPS: $0.24 Net income increase: 107% +5 more

Net income

$501,065

First quarter fiscal 2027

Diluted EPS

$0.24

First quarter fiscal 2027

Net income increase

107%

Compared with the quarter ended June 30, 2025

Operating revenue

$1,983,169

First quarter fiscal 2027

Revenue increase

13%

Compared with the first quarter of fiscal 2026

Average oil price

52% increase

Primary contributor to the revenue increase

Oil production

15% decrease

First quarter fiscal 2027

Fiscal 2027 drilling and completion cost

$1.8 million

Estimated aggregate cost for 53 drilling and 20 completion wells

Previous Earnings Reports

5 past events · Latest: Jun 29

Same Type 5 events

1. Jun 29

   Fiscal year results

   24h Move

   -2.0%

   Fiscal 2026 net income and revenue declined year over year.

2. Feb 10

   Third-quarter results

   24h Move

   -5.7%

   Third-quarter net income fell 89% amid lower oil prices.

3. Nov 12

   Six-month results

   24h Move

   -3.8%

   Revenue increased modestly while oil-price pressure affected results.

4. Aug 12

   First-quarter results

   24h Move

   -2.7%

   Net income declined despite higher revenue and production.

5. Jun 27

   Fiscal year results

   24h Move

   -2.7%

   Net income and operating revenue increased year over year.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

diluted share, horizontal wells, royalty interests, safe harbor provisions

4 terms

diluted share financial

"or $0.24 per diluted share"

Diluted share count is the total number of company shares that would exist if all potential claims that can become stock—such as employee stock options, warrants and convertible bonds—were exercised or converted. Investors use diluted shares to see a more conservative view of ownership and per-share metrics (like earnings per share), because it’s like slicing a cake into more pieces: the same profit spread over more slices makes each slice smaller.

horizontal wells technical

"participate in the drilling of 53 horizontal wells"

Horizontal wells are oil or gas boreholes drilled down and then steered to run sideways through a reservoir, exposing a long stretch of rock to the well instead of a single vertical point. For investors they matter because the wider contact with the resource usually increases production and lowers the cost per unit produced, much like slicing through a loaf covers more area than tiny pokes, so companies can generate more revenue with fewer surface locations.

royalty interests financial

"acquiring oil and gas royalty interests with development potential"

A royalty interest is a legal right to receive a share of revenue generated by a natural resource, property, or intellectual asset—like getting a slice of every sale or barrel produced—without owning or running the business that creates it. For investors it can act like a toll road: it provides potential steady cash flow and upside when production or sales rise, while leaving operational costs and many day-to-day risks with the operator; payments still vary with output, prices, and legal or regulatory changes.

safe harbor provisions regulatory

"In accordance with the Safe Harbor provisions"

Safe harbor provisions are rules or legal protections that shield companies or individuals from certain penalties or liabilities when they follow specific guidelines or procedures. They provide a sense of security, encouraging compliance and innovation by reducing the fear of legal repercussions if they act in good faith. For investors, these provisions help ensure that companies are transparent and accountable without the risk of unfair punishment for honest mistakes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MIDLAND, TX, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) today reported net income of $501,065, or $0.24 per diluted share, for the quarter ended June 30, 2026, the Company’s first quarter of fiscal 2027. This compares to net income of $241,951, or $0.12 per diluted share, for the quarter ended June 30, 2025, a 107% increase.

Operating revenues in the first quarter of fiscal 2027 were $1,983,169, an increase of 13% from $1,756,940 for the first quarter of fiscal 2026. This increase was primarily attributable to a 52% increase in average oil price, partially offset by a 15% decrease in oil production, a 9% decrease in natural gas production, and a 49% decrease in the average natural gas price.

The Company currently expects to participate in the drilling of 53 horizontal wells and the completion of 20 horizontal wells at an estimated aggregate cost of approximately $1.8 million during the fiscal year ending March 31, 2027, of which approximately $620,000 has been expended to date. The Company continues to evaluate additional drilling prospects for participation during the remainder of the fiscal year.

The president of the Company, Tammy McComic, said, "Our investment activity during the quarter was consistent with our ongoing strategy of acquiring oil and gas royalty interests with development potential. During the quarter, we invested approximately $2.1 million in oil and gas royalty property acquisitions, which were funded from existing cash resources."

Mexco Energy Corporation, a Colorado corporation, is an independent oil and gas company located in Midland, Texas engaged in the acquisition, exploration and development of oil and gas properties primarily in the Permian Basin. For more information on Mexco Energy Corporation, go to www.mexcoenergy.com.

In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Mexco Energy Corporation cautions that statements in this press release which are forward-looking and which provide other than historical information involve risks and uncertainties that may impact the Company's actual results of operations. These risks include, but are not limited to, production variance from expectations, volatility of oil and gas prices, the need to develop and replace reserves, exploration risks, uncertainties about estimates of reserves, competition, government regulation, and mechanical and other inherent risks associated with oil and gas production. A discussion of these and other factors, including risks and uncertainties, is set forth in the Company's Form 10-K for the fiscal year ended March 31, 2026. Mexco Energy Corporation disclaims any intention or obligation to revise any forward-looking statements.

For additional information, please contact: Tammy L. McComic, President and Chief Financial Officer of Mexco Energy Corporation, (432) 682-1119.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Mexco Energy (MXC) Q1 fiscal 2027 earnings for the quarter ended June 30, 2026?

Mexco Energy reported net income of $501,065, or $0.24 per diluted share, for Q1 fiscal 2027. According to Mexco Energy, this compares with $241,951, or $0.12 per share, in the prior-year quarter, representing a 107% increase in net income.

How did Mexco Energy (MXC) Q1 2027 revenue compare to Q1 2026?

Mexco Energy generated Q1 fiscal 2027 operating revenues of $1,983,169, up 13% from $1,756,940 in Q1 fiscal 2026. According to Mexco Energy, higher average oil prices offset lower oil and natural gas production and a sharp decline in average natural gas prices.

What drilling and completion activity is Mexco Energy (MXC) planning for fiscal year ending March 31, 2027?

Mexco Energy expects to participate in drilling 53 horizontal wells and completing 20 horizontal wells during fiscal 2027. According to Mexco Energy, the estimated aggregate cost is about $1.8 million, with approximately $620,000 already expended by the end of the first quarter.

How much did Mexco Energy (MXC) invest in oil and gas royalty acquisitions in Q1 fiscal 2027?

During Q1 fiscal 2027, Mexco Energy invested approximately $2.1 million in oil and gas royalty property acquisitions. According to Mexco Energy, these investments were funded from existing cash resources and align with its strategy of acquiring royalty interests with development potential.

What factors drove Mexco Energy’s (MXC) revenue change in Q1 fiscal 2027?

Mexco Energy’s Q1 fiscal 2027 revenue rose 13%, mainly due to a 52% increase in average oil price. According to Mexco Energy, this was partially offset by a 15% drop in oil production, 9% lower natural gas production, and a 49% decline in average natural gas price.

What key risks and uncertainties does Mexco Energy (MXC) highlight in its August 12, 2026 update?

Mexco Energy cites risks including production variance, oil and gas price volatility, reserve development needs, exploration risks, reserve estimate uncertainties, competition, and government regulation. According to Mexco Energy, mechanical and other inherent risks in oil and gas production also affect future operating results.