Lower oil prices and production volumes drove an 8% year-over-year revenue decline for the energy firm in its latest fiscal period.
Mexco Energy reported a GAAP EPS of $0.64 for the fiscal year, alongside revenue of $6.56 million, an 8% decline from the prior year. The drop was primarily due to lower average realized oil prices and reduced oil production volumes.
The company partially offset the decline with higher natural gas prices, increased natural gas production, and gains from a limited liability company investment. Prior-year revenue figures were not provided in the release.
No immediate market reaction was detailed in the announcement.