Filing Flows › Empire Petroleum (EP) › Q4 2024
Empire Petroleum (EP) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 27, 2025
Empire Petroleum (EP) reported revenue of $10.1M for the fourth quarter 2024 (Q4 2024), -10% from a year earlier and -11% from the quarter before. Operating margin was -38.9%, net loss $4.2M (41.6% of revenue).
Empire Petroleum, Q4 2024: revenue $10.1M (-10% year over year), operating margin -38.9%, net loss $4.2M, operating cash flow −$8.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.1M | -11% | -10% |
| Operating profit | −$3.9M | — | — |
| Net earnings | −$4.2M | — | — |
| Operating cash flow | −$8.8M | — | — |
What changed
Revenue was $10.1M in Q4 2024, down 10% year over year and down 11% from the previous quarter.
Operating costs exceeded revenue by $3.9M, an operating margin of -38.9%. Total costs fell 10% while revenue fell 10%. The quarter ended with a net loss of $4.2M, wider than the previous quarter's $3.6M loss.
Operating cash flow was −$8.8M. Non-cash charges added back $2.5M of depreciation and amortization and $519K of share-based compensation. Working capital and other items used $7.6M. Capital expenditures of $13K exceeded it, leaving free cash flow of −$8.8M.
Questions
What was Empire Petroleum's revenue in the fourth quarter 2024?
Empire Petroleum (EP) reported revenue of $10.1M for the fourth quarter 2024 (Q4 2024), -10% from a year earlier and -11% from the quarter before.
Was Empire Petroleum profitable in the fourth quarter 2024?
Operating loss was $3.9M (-38.9% of revenue) and net loss $4.2M.
Source: Empire Petroleum 10-K on SEC EDGAR.