Amplify Energy posts Q4 net income, driven by asset sales

Reuters03-10
Amplify Energy posts Q4 net income, driven by asset sales

Overview

  • Oil company reported Q4 net income of $64.4 mln, driven by asset sales

  • Amplify Energy reports Q4 adjusted net loss of $10.4 mln

  • Company completed strategic divestitures and repaid all outstanding debt

Outlook

  • Amplify projects 2026 capital investment of $45 to $65 mln, mostly for Beta development

  • Company expects to drill 5-8 wells at Beta in 2026, focusing on Joulters fault block

  • Amplify anticipates annual G&A costs of $17 to $22 mln in 2026

Result Drivers

  • ASSET SALES - Amplify's Q4 net income was significantly impacted by gains from the sale of East Texas and Oklahoma assets

  • COST REDUCTION - Amplify reduced operating costs at Bairoil, lowering annual lease operating expenses by $10 mln

  • DRILLING SUCCESS - Amplify's Beta development program exceeded pre-drill type curves with four new wells

Company press release: ID:nGNX2DbcxN

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Adjusted Revenue

Miss

$56.60 mln

$71.07 mln (2 Analysts)

Q4 Adjusted Net Income

Miss

-$10.4 mln

$4.92 mln (2 Analysts)

Q4 Net Income

$64.4 mln

Q4 Adjusted EBITDA

Beat

$21.50 mln

$20.80 mln (2 Analysts)

Q4 Basic EPS

$1.50

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

  • Wall Street's median 12-month price target for Amplify Energy Corp is $9.13, about 49.6% above its March 6 closing price of $6.10

  • The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 34 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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