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Mexco Energy reports 24% net income drop in fiscal 2026 due to lower oil prices and production.

Company Fundamentals
29 Jun 2026
GlobeNewsWire
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Neutral
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Mexco Energy Corporation reported a 24% decline in net income to $1.3 million for fiscal 2026, driven by lower average oil prices and reduced oil production despite gains in natural gas prices and production. Operating revenues fell 8% to $6.56 million. The company invested $1.25 million in developing 57 horizontal wells and plans to drill 33 more in fiscal 2027. Proved oil reserves decreased 2%, while natural gas reserves rose 7%, with total proved reserves valued at $21 million. Mexco holds $1.4 million in cash with no bank debt and continues to seek growth opportunities.

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