Amplify Energy (AMPY) came out with quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -45.16%. A quarter ago, it was expected that this oil and gas company would post earnings of $0.23 per share when it actually produced a loss of $0.24, delivering a surprise of -204.35%.Over the last four quarters, ...

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock AMPY NYSE UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-35512 Amplify En ...

Financial Performance - In Q2 2024, Amplify Energy achieved average total production of 20.3 MBoepd, generating net cash from operating activities of $15.4 million and net income of $7.1 million, compared to a net loss of $9.4 million in the previous quarter[1][3]. - Adjusted EBITDA for Q2 2024 was $30.7 million, an increase of approximately $5.8 million from $24.9 million in Q1 2024, benefiting from a one-time $7.0 million accounting adjustment[3][4]. - Free cash flow for Q2 2024 was $9.2 million, up $6.9 million from the prior quarter, marking positive free cash flow in 16 of the last 17 fiscal quarters[3][4]. - Total revenues for Q2 2024, excluding hedges, were approximately $79.5 million, with oil, natural gas, and NGL revenues before derivatives at approximately $72.3 million[4][8]. - Total revenues for the three months ended June 30, 2024, were $79,503,000, an increase from $76,299,000 for the three months ended March 31, 2024, representing a growth of 2.3%[29]. - Net income for the three months ended June 30, 2024, was $7,119,000, compared to a net loss of $9,396,000 for the three months ended March 31, 2024, indicating a significant turnaround[29]. - Adjusted EBITDA rose to $30,749,000 for the three months ended June 30, 2024, up from $24,901,000 for the three months ended March 31, 2024, indicating a growth of approximately 23%[40]. - Free Cash Flow increased to $9,151,000 for the three months ended June 30, 2024, compared to $2,283,000 for the three months ended March 31, 2024, reflecting a substantial increase[40]. - The company reported net cash provided by operating activities of $15,389,000 for the three months ended June 30, 2024, up from $7,712,000 for the three months ended March 31, 2024, showing improved operational efficiency[34]. Production and Operations - The A50 development well at Beta achieved a peak IP30 oil rate of approximately 730 Bopd, exceeding company projections, with an expected payback period of about 4 months[1][13]. - Average daily production of oil is projected to be 8.9 MBbls/d for FY 2024, with a low estimate of 8.1 MBbls/d and a high estimate of 8.9 MBbls/d[15]. - Natural gas production is expected to reach 50.0 MMcf/d in FY 2024, with a low estimate of 44.0 MMcf/d[15]. - Production volumes for oil reached 10 MBbls and natural gas was 421 MMcf for the three months ended June 30, 2024, showing operational activity[44]. - Total production volumes remained stable at 1,843 MBoe for the three months ended June 30, 2024, compared to 1,842 MBoe for the three months ended March 31, 2024[32]. Financial Guidance and Projections - Amplify's updated guidance for 2024 includes expectations for crude oil prices at $76/Bbl and natural gas at $2.25/MMBtu, with 85% to 95% of capital investment allocated in the first three quarters[14]. - Adjusted EBITDA for FY 2024 is guided to be between $100 million and $120 million, compared to $95 million in the previous fiscal year[16]. - Free cash flow is projected to be between $30 million and $40 million for FY 2024, up from $25 million in the previous fiscal year[16]. - Capital expenditures are projected to rise to between $60 million and $65 million for FY 2024, compared to $50 million in the previous fiscal year[16]. - The company anticipates a total revenue increase from $4 million to $12 million in other revenue streams for FY 2024[15]. Cost Management - Lease operating expenses in Q2 2024 were approximately $36.3 million, or $19.70 per Boe, a decrease from the previous quarter[10]. - Lease operating expenses are expected to increase to $20.50 per Boe, up from $18.50 per Boe in the previous fiscal year[16]. - The average unit costs per Boe for lease operating expenses decreased to $19.70 for the three months ended June 30, 2024, from $20.78 for the previous quarter, indicating cost management improvements[30]. - Total costs and expenses decreased to $65,951,000 for the three months ended June 30, 2024, down from $85,381,000 for the three months ended March 31, 2024, a reduction of approximately 22.7%[29]. - General and administrative expenses decreased to $8,358,000 for the three months ended June 30, 2024, down from $9,800,000 in the previous quarter[43]. Debt and Liquidity - As of June 30, 2024, Amplify's net debt was $117.5 million, with a net debt to LTM Adjusted EBITDA ratio of 1.2x[1][5]. - Cash and cash equivalents decreased to $502,000 as of June 30, 2024, down from $2,989,000 as of March 31, 2024, indicating a liquidity contraction[33]. - Long-term debt increased to $118,000,000 as of June 30, 2024, compared to $115,000,000 as of March 31, 2024, reflecting a slight increase in financial leverage[33]. Investment Strategy - The company plans to invest $60-65 million in 2024, focusing on Beta development and non-operated drilling opportunities in East Texas and the Eagle Ford[11][14]. - Amplify has added oil and natural gas hedges, with natural gas swaps at a weighted-average price of $3.88 per MMBtu for 2026[18]. - The company executed crude oil swaps for 2025 at a weighted-average price of $74.10 per barrel[18]. - Capital expenditures were $18,004,000 for the three months ended June 30, 2024, compared to $19,092,000 for the three months ended March 31, 2024, indicating a reduction in spending[40]. Operational Focus - Amplify's operations are focused in multiple regions including Oklahoma, the Rockies, and offshore Southern California, indicating a diversified operational strategy[21]. - The company reported a non-cash revenue suspense release of $7,000,000 for the three months ended June 30, 2024, contributing to the adjusted EBITDA[40]. - The company incurred acquisition and divestiture related costs of $9,000 for the three months ended June 30, 2024, down from $14,000 in the previous quarter[40].

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The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at ...

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HOUSTON, July 24, 2024 (GLOBE NEWSWIRE) -- Amplify Energy Corp. ("Amplify" or the "Company") (NYSE:AMPY) announced today that it will report second quarter 2024 financial and operating results after the U.S. financial markets close on August 7, 2024. Management will host a conference call at 10:00 a.m. CT on August 8, 2024 to discuss the Company's results. Interested parties are invited to participate in the conference call by dialing (800) 245-3047 (Conference ID: AEC2Q24) at least 15 minutes prior to the ...

For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Amplify Energy (AMPY) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.Amplify Energy is one of 249 companies in the Oils-Energy group. The Oils-Energy group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 ...

Core Viewpoint - The article emphasizes the importance of identifying sustainable trends in short-term investing, highlighting that while price momentum can be profitable, it requires strong fundamentals to maintain that momentum. Group 1: Investment Strategy - The "Recent Price Strength" screen is a tool designed to identify stocks with sufficient fundamental strength to sustain their upward price trends [2] - Stocks that pass this screen are typically trading in the upper portion of their 52-week high-low range, indicating bullish sentiment [2] Group 2: Company Analysis - Amplify Energy (AMPY) - Amplify Energy (AMPY) has shown a solid price increase of 0.6% over the past 12 weeks, reflecting investor confidence in its potential [2] - Over the last four weeks, AMPY's price has increased by 26.6%, indicating that the upward trend is still intact [3] - AMPY is currently trading at 81.9% of its 52-week high-low range, suggesting it may be on the verge of a breakout [3] - The stock holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [3] - The Average Broker Recommendation for AMPY is 1 (Strong Buy), indicating strong optimism from the brokerage community regarding its near-term price performance [4] Group 3: Broader Investment Opportunities - In addition to AMPY, there are several other stocks that meet the criteria of the "Recent Price Strength" screen, suggesting additional investment opportunities [4] - The Zacks Rank stock-rating system has a proven track record, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [4]