Mexco Energy Corporation Reports Financial Results for First Quarter

Rhea-AI Summary

Mexco Energy Corporation (NYSE American: MXC) reported its Q1 fiscal 2026 financial results with net income of $241,951 ($0.12 per diluted share), down 17% from $291,039 ($0.14 per diluted share) in Q1 fiscal 2025. Operating revenues increased 5% to $1,814,176, driven by significant production volume increases and higher natural gas prices.

The company saw a 16% increase in oil production and a 25% increase in natural gas production. Natural gas prices surged 62%, though oil prices declined 21%. Mexco plans to participate in 35 new horizontal wells with estimated costs of $1.2 million for fiscal 2026, with $350,000 already spent.

Positive

• None.

Negative

• Net income decreased 17% year-over-year to $241,951
• Oil prices decreased 21% compared to previous year
• Significant capital expenditure of $1.2 million planned for well drilling

News Market Reaction

-2.73%

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-2.73% News Effect

On the day this news was published, MXC declined 2.73%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MIDLAND, TX, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) today reported net income of $241,951, or $0.12 per diluted share, for the quarter ending June 30, 2025, the Company’s first quarter of fiscal 2026. This compares to net income of $291,039, or $0.14 per diluted share, for the quarter ending June 30, 2024, a 17% decrease.

Operating revenues in the first quarter of fiscal 2026 were $1,814,176, an increase of 5% from $1,727,835 for the first quarter of fiscal 2025. This was primarily due to a 16% increase in oil production volumes, a 25% increase in natural gas production volumes, a 62% increase in the average natural gas price, and a 49% increase in revenues from the Company’s investment in a limited liability company partially offset by a 21% decrease in the average oil price.

The Company currently expects to participate in the drilling of 35 and completion of 17 horizontal wells at an estimated aggregate cost of approximately $1.2 million for the fiscal year ending March 31, 2026, of which approximately $350,000 has been expended to date. The Company is evaluating other prospects for participation during this fiscal year.

The president of the Company, Tammy McComic, said, “In the first quarter of fiscal 2026, volumes of the Company’s average production of oil and gas increased 21% over the comparable quarter in fiscal 2025. Prices of oil and gas per BOE decreased 14% for the comparable period. Oil accounts for 80% of our gross oil and natural gas sales.”

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, 2025. 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

What was Mexco Energy's (MXC) earnings per share for Q1 fiscal 2026?

Mexco Energy reported earnings of $0.12 per diluted share for Q1 fiscal 2026, compared to $0.14 per share in the same quarter last year.

How much did Mexco Energy's (MXC) oil and gas production increase in Q1 2026?

Mexco Energy's total production volumes increased 21%, with oil production up 16% and natural gas production up 25% compared to Q1 fiscal 2025.

What is Mexco Energy's (MXC) drilling plan for fiscal 2026?

Mexco Energy plans to participate in 35 horizontal wells and complete 17 wells at an estimated cost of $1.2 million, with $350,000 already spent.

How much did Mexco Energy's (MXC) revenue grow in Q1 2026?

Mexco Energy's operating revenues grew 5% to $1,814,176 in Q1 fiscal 2026, compared to $1,727,835 in Q1 fiscal 2025.

What was the impact of commodity prices on Mexco Energy (MXC) in Q1 2026?

Mexco Energy saw natural gas prices increase 62% while oil prices decreased 21%. Oil accounts for 80% of the company's gross oil and natural gas sales.