Empire Petroleum Corp income statement
In fiscal 2025, Empire Petroleum Corp reported revenue of $34.2m, down 21.6% on the year before, operating income of −$71.3m (a -208.5% margin) and net income of −$72.1m, or −$2.12 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 6 | 8 | 27 | 53 | 40 | 44 | 34 | 31 |
| General and administrative | 1 | 1 | 4 | 7 | 8 | 12 | 15 | 15 | 13 | 12 |
| Operating income | −1 | −1 | −6 | −18 | −0 | 9 | −12 | −14 | −71 | −70 |
| Interest expense | 0 | −0 | −1 | — | — | — | — | 2 | 2 | 2 |
| Income before tax | — | — | — | — | −19 | 7 | −13 | −16 | −72 | −71 |
| Income tax | — | — | — | — | — | 0 | −0 | — | — | — |
| Net income | −1 | −1 | −7 | −17 | −19 | 7 | −12 | −16 | −72 | −71 |
| Diluted EPS | −$0.32 | −$0.08 | −$0.33 | −$2.97 | −$1.27 | $0.30 | −$0.55 | −$0.54 | −$2.12 | −$1.96 |
| Diluted shares (average) | 3m | 3m | 5m | 6m | 15m | 23m | 23m | 30m | 34m | 36m |
| EBITDA | −1 | −1 | −3 | −14 | 2 | 11 | −9 | −4 | −61 | −61 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11 | 10 | 9 | 9 | 9 | 7 | 5 | 10 |
| General and administrative | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 |
| Operating income | −3 | −4 | −4 | −5 | −4 | −59 | −6 | −2 |
| Interest expense | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Income before tax | −4 | −4 | −4 | −5 | −4 | −59 | −7 | −2 |
| Net income | −4 | −4 | −4 | −5 | −4 | −59 | −7 | −2 |
| Diluted EPS | −$0.12 | −$0.13 | −$0.12 | −$0.15 | −$0.11 | −$1.73 | −$0.18 | −$0.05 |
| EBITDA | −1 | −1 | −2 | −2 | −1 | −56 | −4 | −0 |
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