PHX Minerals (PHX) Misses Q2 EPS by 2c

PHX Minerals (NYSE: PHX) reported Q2 EPS of ($0.02), $0.02 worse than the analyst estimate of $0.00.

• Production volumes for the second fiscal quarter of 2021 were 2,297 Mmcfe, decreased from 2,373 Mmcfe in the second fiscal quarter of 2020 and increased from 2,074 Mmcfe in the first fiscal quarter of 2021.
• Net loss in the second fiscal quarter of 2021 was $0.5 million, or $0.02 per share, as compared to net loss $20.5 million, or $1.24 per share, in the second fiscal quarter of 2020 and net loss of $0.6 million, or $0.03 per share, in the first fiscal quarter of 2021.
• Adjusted EBITDA excluding gain on asset sales(1) for the second quarter of 2021 was $3.4 million, increased from $2.4 million in the second fiscal quarter of 2020 and $2.7 million in the first fiscal quarter of 2021.
• On April 30, 2021, the Company closed on the previously announced acquisition of 2,514 net royalty acres in the SCOOP play of Oklahoma for approximately $8.5 million in cash and 1.2 million shares of PHX stock.
• Reduced total debt 13% from $27.0 million as of Dec. 31, 2020, to $23.5 million as of March 31, 2021. As of April 30, 2021, debt had been further reduced by $1.75 million to $21.75 million.
• Debt to adjusted EBITDA (TTM) (1) ratio was 2.34x at March 31, 2021.
• Approved the payment of a one cent per share dividend payable on June 4, 2021, to stockholders of record on May 20, 2021.

For earnings history and earnings-related data on PHX Minerals (PHX) click here.

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