Financial & Operational Highlights
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| ($ in thousands) · · Q3 2026 · · Q3 2025 · · Q2 2026 · · % Change vs Q3/Q3 · · % Change vs Q3/Q2 · · 2026 YTD · · 2025 YTD · · % Change vs YTD'25 |
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| Average BOEPD | | | 6,700 | | | 6,667 | | | 7,380 | | —% | | (9)% | | | 7,135 | | | 7,033 | | 1% |
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| Revenues | | $20,168 | | $22,561 | | $20,679 | | (11)% | | (2)% | | $62,135 | | $64,732 | | (4)% | |
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| Net Income (Loss) (1) | | $(8,932) | | $(2,179) | | $1,065 | | 310% | | NM | | | $(7,043) | | $(1,939) | | 263% | |
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| Adjusted Net Income (Loss) (1)(2) | | $(2,941) | | $806 | | $257 | | NM | | | NM | | | $(2,892) | | $701 | | NM | | |
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| Adjusted EBITDA(3) | | $3,107 | | $7,421 | | $7,994 | | (58)% | | (61)% | | $18,402 | | $21,234 | | (13)% | |
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| (1) | "NM" means "Not Meaningful." |
| (2) | Adjusted Net Income is a non-GAAP financial measure; see the non-GAAP reconciliation schedules to the most comparable GAAP measures at the end of this release for more information. |
| (3) | Adjusted EBITDA is Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization and is a non-GAAP financial measure; see the non-GAAP reconciliation schedules to the most comparable GAAP measures at the end of this release for more information. |
| ● | Fiscal Q3 production increased slightly year-over-year to 6,700 barrels of oil equivalent per day (“BOEPD”) from 6,667 BOEPD in the prior year period. |
| ● | Production remained stable during the quarter, as contributions from recent acquisitions partially offset weather-related disruptions and downtime. |
| ● | Adjusted Net Income (Loss) and Adjusted EBITDA were impacted by: |
| o | $3.2 million in departure from the prior-year period differentials, including $1.2 million related to prior period adjustments at Delhi Field. |
| o | $2.2 million in realized hedge losses. |
| o | Downtime of over 300 BOEPD related to extreme weather conditions in January, optimization activities at certain facilities and unexpected equipment failures. With these issues resolved, production is substantially restored. |
| ● | Returned approximately $4.3 million to shareholders in the form of cash dividends during fiscal Q3. |
| ● | Evolution expects 23 wells tied to its Louisiana royalty acquisitions to begin producing in the near term, meaningfully driving revenue and cash flow contributions in fiscal Q4 2026 and onward. |
