Revenue has experienced a consistent downward trajectory, with recent quarterly figures of $4.6M reflecting a 16.0% year-over-year contraction while operating margins remain deeply negative at -38.5%.
| Sales/Revenue | 17.31M | 20.27M | 26.82M | 40.2M | 0 |
| Revenue Growth % | -59.46% | -24.43% | -33.28% | - | - |
| Cost of Goods Sold | 3.51M | 4.12M | 0 | 5.1M | 0 |
| COGS % of Revenue | - | 20.34% | - | 12.68% | - |
| Gross Profit | 13.81M | 16.15M | 26.82M | 35.1M | 0 |
| Gross Margin % | 79.74% | 79.66% | 100% | 87.32% | - |
| Gross Profit Growth % | - | -39.8% | -23.59% | - | - |
| Operating Expenses | 19.29M | 19.99M | 21.58M | 17.74M | 13.78K |
| OpEx % of Revenue | - | 98.62% | 80.47% | 44.13% | - |
| Selling, General & Admin | 18.67M | 19M | 17.4M | 11.37M | 13.78K |
| SG&A % of Revenue | - | 93.71% | 64.87% | 28.29% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | 611.96K | 995.36K | 4.18M | 6.37M | 0 |
| Operating Income | -5.48M | -3.84M | 5.24M | 17.36M | -13.78K |
| Operating Margin % | -31.65% | -18.97% | 19.53% | 43.18% | - |
| Operating Income Growth % | - | -173.39% | -69.82% | 126052.87% | - |
| EBITDA | -3.5M | -1.44M | 7.94M | 20.55M | -13.78K |
| EBITDA Margin % | -20.2% | -7.09% | 29.61% | 51.12% | - |
| EBITDA Growth % | -30821.33% | -118.09% | -61.34% | 149189.55% | - |
| D&A (Non-Cash Add-back) | 1.98M | 2.41M | 2.7M | 3.19M | 0 |
| EBIT | 14.69M | -2.55M | 5.62M | 19.37M | -13.78K |
| Net Interest Income | -7.94M | -9.95M | -3.75M | -1.08M | 0 |
| Interest Income | 62.98K | 58.79K | 320.14K | 0 | 0 |
| Interest Expense | 8M | 10M | 4.07M | 1.08M | 0 |
| Other Income/Expense | 12.17M | -8.71M | -11.66M | 937.18K | 0 |
| Pretax Income | 6.69M | -12.55M | -6.42M | 18.3M | -13.78K |
| Pretax Margin % | 38.64% | -61.92% | -23.93% | 45.52% | - |
| Income Tax | 4.03M | -3.47M | -2.39M | 0 | 0 |
| Effective Tax Rate % | 60.18% | 27.65% | 37.2% | 0% | 0% |
| Net Income | 2.66M | -9.08M | -4.03M | 18.3M | -13.78K |
| Net Margin % | 15.39% | -44.8% | -15.03% | 45.52% | - |
| Net Income Growth % | 119.91% | -125.3% | -122.03% | 132852.87% | - |
| Net Income (Continuing) | 2.66M | -9.08M | -4.03M | 18.3M | -13.78K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 24.61M | 33.41M | 0 | 0 |
| EPS (Diluted) | 0.05 | -1.58 | -0.77 | 1.57 | -0.00 |
| EPS Growth % | 94.11% | -105.19% | -149.04% | - | - |
| EPS (Basic) | - | -1.58 | -0.77 | 1.57 | -0.00 |
| Diluted Shares Outstanding | 54.96M | 5.73M | 5.24M | 11.63M | 11.63M |
| Basic Shares Outstanding | 38.07M | 5.73M | 5.24M | 11.63M | 11.63M |
| Dividend Payout Ratio | - | - | - | 10.93% | - |
Operational scale and liquidity
According to the company's quarterly financial disclosures, EONR has experienced a consistent downward trend in top-line performance, with recent quarterly revenue of $4.6M reflecting a significant contraction compared to historical peaks, underscoring the challenges of managing natural production decline rates within its concentrated Permian Basin asset base.
The persistent revenue decline suggests that the company is struggling to offset natural depletion through its current workover program. Investors should monitor whether the recent rebranding signals a shift in strategy or if the top-line erosion remains a structural byproduct of the asset's maturity.
As reported in financial statements, EONR maintains a robust gross margin profile, averaging approximately 79% to 80% over recent periods, which highlights the relatively low direct lifting costs associated with its contiguous Permian acreage despite the broader volatility in realized commodity prices and production volumes.
While the gross margin appears healthy, the inability to translate this into positive operating income suggests that the company's cost structure is poorly aligned with its current throughput. This discrepancy implies that the business remains sub-scale, requiring higher production volumes to effectively absorb fixed operating expenses.
Based on EONR's reported figures, the company consistently fails to achieve positive operating leverage, as SG&A expenses frequently exceed gross profit, resulting in negative operating margins that have reached as low as -73.9% in recent quarters, indicating a lack of sufficient scale to cover corporate costs.
The persistent gap between gross profit and operating income suggests that the current corporate structure is too heavy for the existing production level. Without a significant increase in output or a drastic reduction in G&A, the company may continue to face challenges in achieving sustainable profitability.
Analysis of the income statement reveals that net income is frequently distorted by non-operating items and stock-based compensation, with recent quarterly net income figures showing extreme fluctuations that do not necessarily reflect the underlying cash-generative capacity of the company's core oil and gas production operations.
The presence of significant stock-based compensation, which reached $1.3M in 2024Q4, warrants further investigation as it dilutes shareholder value while the company remains in a net loss position. Investors should focus on cash flow metrics rather than reported net income to gauge the true health of the business.
Financial data indicates that EONR's reliance on a single, mature Permian asset creates a binary risk profile, where any regulatory or mechanical disruption to its 207 injection wells could immediately threaten the company's ability to maintain production and cover its fixed corporate overhead expenses.
Short-sellers would likely focus on the company's inability to achieve consistent operating profitability despite high gross margins. The risk remains that the current asset base is nearing a point where the capital required for maintenance exceeds the cash flow generated, potentially leading to liquidity constraints.
Quick answers to the most common questions about buying EONR stock.
For fiscal year 2024, EON Resources Inc. (EONR) reported total revenue of $20.3M.
EON Resources Inc. (EONR) reported a net loss of $9.1M for the fiscal year ending 2024.
EON Resources Inc. (EONR) reported an operating income of $-3.8M, resulting in an operating profit margin of -19.0%. This margin reflects the operational efficiency of the business before interest and taxes.
EON Resources Inc. (EONR) generated $16.1M in gross profit for the year, representing a gross profit margin of 79.7%. This demonstrates the company's core pricing power and production efficiency.