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Amplify Energy Corp. (AMPY)
NYSE:AMPY
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.27Last Year’s EPS
$1.07Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -20.47%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Positive
The earnings call highlights a strong financial performance with increased net income, successful drilling results, and reduced operating expenses. However, challenges include a decline in production, volatility in crude prices affecting asset valuation, and high drilling costs. Overall, the performance is positive with strategic plans to capitalize on successes and mitigate risks.Company Guidance
During the third quarter of 2024, Amplify Energy reported robust performance, generating $25.5 million in adjusted EBITDA and $3.6 million in free cash flow, aligning with expectations. The company maintained an average production of approximately 19,000 BOE per day, with a commodity mix of 43% oil, 17% NGLs, and 40% natural gas. Lease operating expenses were $33.3 million, a reduction of $3 million from the previous quarter due to optimization initiatives. Capital investments for the quarter totaled $18.2 million, with $12 million dedicated to Beta development and emissions reduction projects. Amplify's liquidity was enhanced by a $10 million increase in elected commitments, raising the borrowing base to $145 million. The company has successfully hedged 75% to 80% of its PDP crude oil production for 2024 and 2025, with gas production hedged at 80% to 85% through 2026. As of September 30, the company had $120 million in debt, with a leverage ratio of 1.1x.Strong Financial Performance
Amplify reported a net income of approximately $22.7 million, a significant increase from $7.1 million in the prior quarter. The company also generated $25.5 million of adjusted EBITDA and continues to generate positive free cash flow.
Successful Drilling Operations
The company successfully drilled and brought online the C-59 well with an IP30 rate of approximately 590 barrels of oil per day, exceeding initial projections. The development program at Beta has exceeded expectations.
Reduction in Lease Operating Expenses
Lease operating expenses decreased to $33.3 million, down $3 million from the previous quarter, due to optimization initiatives and reclassification of expenses.
Sustainability Achievements
Amplify issued its second annual sustainability report, highlighting a substantial reduction in Scope 1 emissions and methane intensity.
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AMPY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AMPY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $7.18 | $6.87 | -4.32% |
| Aug 07, 2024 | $6.50 | $7.51 | +15.54% |
| May 08, 2024 | $7.16 | $6.62 | -7.54% |
| Mar 06, 2024 | $6.10 | $6.26 | +2.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Amplify Energy Corp. (AMPY) report earnings?
Amplify Energy Corp. (AMPY) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Amplify Energy Corp. (AMPY) earnings time?
Amplify Energy Corp. (AMPY) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AMPY EPS forecast?
AMPY EPS forecast for the fiscal quarter 2024 (Q4) is $0.27.
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