AMPY NYSE· Amplify Energy Corporation
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AMPY NYSE· Amplify Energy Corporation
Earnings report Q3 2023

AMPY Reports Decrease in Revenue for the Latest Quarter

Segments of revenue

In the latest quarter, AMPY reported total revenues of $76.77 million. The majority of the revenue came from oil and natural gas sales, which amounted to $76.40 million. Other revenues contributed a smaller portion, totaling $0.37 million.


Despite the decrease in revenue compared to the same quarter last year, AMPY's management highlighted several strengths. They mentioned that the decrease in revenue was primarily due to lower oil and natural gas prices during the quarter. However, the company was able to partially offset this decline through cost management and operational efficiencies. AMPY's focus on optimizing lease operating expenses and general and administrative expenses helped mitigate the impact of lower revenues.


AMPY faced challenges in the latest quarter, primarily driven by lower oil and natural gas prices. The decrease in prices negatively impacted the company's overall revenue. Additionally, the loss on commodity derivative instruments further added to the challenges faced by AMPY. The company also incurred a loss related to a pipeline incident, which further impacted its financial performance.


It is worth noting that AMPY reported a net loss of $13.40 million for the latest quarter. This is a significant decrease compared to the net income of $47.23 million reported in the same quarter last year. The decrease in net income can be attributed to the lower revenue and the loss on commodity derivative instruments.


AMPY's latest quarter performance was marked by a decrease in revenue, primarily driven by lower oil and natural gas prices. However, the company demonstrated strengths in cost management and operational efficiencies, which helped mitigate the impact of lower revenues. AMPY faced challenges due to the decline in prices and incurred losses related to pipeline incidents and commodity derivative instruments. Overall, the company's financial performance in the latest quarter reflects the volatility of the energy market and the need for AMPY to adapt to changing market conditions.

Source documents

Form 10-Q  filed on Nov 06, 2023
48 pages scanned

Reference data

Company financials Q3 revenue 61.1M
Analyst estimates Q3 EPS missed by -6.90%
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