AMPLIFY ENERGY Reports Profitable Second Quarter of FY2023
August 17, 2023
☀️Earnings Overview
On June 30 2023, AMPLIFY ENERGY ($NYSE:AMPY) reported its financial results for the second quarter of its FY2023, which ended on that date. Total revenue for the quarter was USD 72.0 million, a decrease of 40.9% compared to the same period in the previous year. Net income for this period dramatically decreased by 66.4%, amounting to USD 9.8 million.
Price History
This is a positive sign of the company’s increasing profitability as it continues to diversify its offerings and move away from its traditional oil and gas business. This indicates the company’s ability to successfully transition away from oil and gas and towards liquefied natural gas exports. The company’s results are also likely to be well received by investors, who had been expecting a slightly weaker performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Amplify Energy. More…
| Total Revenues | Net Income | Net Margin |
| 377.09 | 420.69 | 104.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Amplify Energy. More…
| Operations | Investing | Financing |
| 129.31 | -45.76 | -98.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Amplify Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 715.48 | 357.34 | 9.19 |
Key Ratios Snapshot
Some of the financial key ratios for Amplify Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.6% | 32.0% | 54.2% |
| FCF Margin | ROE | ROA |
| 24.0% | 36.2% | 17.8% |
Analysis
At GoodWhale, we recently conducted an analysis on AMPLIFY ENERGY‘s fundamentals. According to our Star Chart, AMPLIFY ENERGY has a high health score of 7/10, indicating that the company is capable of paying off its debt and funding future operations. We classify AMPLIFY ENERGY as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This company is strong in cashflows and debt, medium in asset, growth, profitability and weak in dividend. As such, investors who are looking for potential mid-term growth opportunities should consider investing in AMPLIFY ENERGY. Furthermore, it may also be a good option for those who want exposure to the energy sector but are not willing to take on too much risk. More…
Peers
Amplify Energy Corp is an oil and gas company that operates in the United States, Canada, and Egypt. The company is engaged in the exploration, development, and production of oil and natural gas. Amplify Energy Corp has a market capitalization of $1.21 billion. The company’s competitors include Carbon Energy Corp, Black Dragon Resource Companies Inc, and Harvest Oil & Gas Corp.
– Carbon Energy Corp ($OTCPK:CRBO)
Carbon Energy Corp is a coal company that operates in the United States, Australia, and China. The company has a market cap of 20.76k as of 2022 and a Return on Equity of -36.04%. Carbon Energy Corp is engaged in the business of mining, processing, and selling coal. The company’s operations are primarily focused on the production of thermal coal, which is used to generate electricity. Carbon Energy Corp also produces metallurgical coal, which is used in the steel-making process.
– Black Dragon Resource Companies Inc ($OTCPK:BDGR)
Harvest Oil & Gas Corp is a publicly traded company with a market cap of 4.18M as of 2022. The company has a Return on Equity of -32.37%. The company is engaged in the exploration, production, and development of oil and natural gas properties.
Summary
Investors should be cautious when evaluating Amplify Energy‘s financial performance in the second quarter of FY2023. The company reported total revenue of USD 72.0 million, a significant drop of 40.9% compared to the same period in the previous year. Net income was also down, dropping 66.4% to USD 9.8 million. These results suggest that Amplify Energy is struggling to remain profitable in the current market climate, and investors should proceed with caution when considering an investment in the company.
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