HOUSTON, March 24, 2026 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. ("Epsilon" or the "Company") (NASDAQ: EPSN) today reported financial results for the fourth quarter and full-year ended December 31, 2025.
Full Year and Q4 2025 Highlights:
Epsilon - Full-Year 2025 & Q4 2025
2025 2024 Q4 2025 Q3 2025 YoY% QoQ%
----------------- ------ ------ ------- ------- ------- -------
NRI Production
Gas MMcf 10,001 6,142 2,373 2,136 63% 11%
Oil MBbl 223 187 94 39 20% 138%
NGL MBbl 81 69 43 14 17% 211%
Total MMcfe 11,825 7,676 3,196 2,456 54% 30%
Daily MMcfe/d 32.4 21.0 34.7 26.7
Revenues $M
Gas 29,121 10,786 6,839 4,758 170% 44%
Oil 13,804 13,731 5,299 2,511 1% 111%
NGL 1,979 1,482 1,180 267 34% 342%
Midstream(1) 6,684 5,524 1,501 1,445 21% 4%
Total 51,588 31,523 14,818 8,981 64% 65%
Realized
Prices(2)
Gas $/Mcf 2.91 1.76 2.88 2.23 66% 29%
Oil $/Bbl 61.90 73.61 56.44 63.73 -16% -11%
NGL $/Bbl 24.43 21.41 27.17 19.12 14% 42%
Adj. EBITDA(3) $M 30,744 17,578 7,553 5,240 75% 44%
Cash + STI(4) $M 9,513 6,990 9,513 13,236 36% -28%
Capex(5) $M 15,259 18,926 1,641 2,885 -19% -43%
Dividend $M 5,998 5,487 1,868 1,379 9% 36%
Adj Net Income(6) $M 21,294 3,639 11,103 1,947
p/share(7) $ 0.92 0.17 0.43 0.09
1) Net of elimination entry for fees paid by Epsilon
2) Excludes impact of hedge realizations
3) Excludes transaction costs
4) Includes restricted cash balance
5) Excludes acquisitions
6) Excludes one-time / non-recurring expenses for
transaction costs, impairments, and loss on asset
sale
7) Calculated on weighted average shares outstanding
for the period
Note: The acquisition of the Peak companies was closed on November 14, 2025 and the Powder River Basin (Wyoming) results are reflected from the closing date to year-end.
Jason Stabell, Epsilon's Chief Executive Officer, commented, "Over the past three years, we have repositioned Epsilon into a differentiated, multi-basin platform that is unique among small-cap energy companies. Building on our legacy position in the Marcellus--where we are partnered with a premier operator in one of the lowest-cost natural gas basins in the world--we have added exposure and meaningful organic growth potential in one of the most attractive emerging plays in the Permian. Recent announcements from leading public Permian operators, including Occidental and Diamondback, further underscore the industry's growing enthusiasm for the Barnett oil play.
In January, a leading private-equity-backed operator assumed operations of our 16,600-gross-acre Ector County Barnett project, a transition we expect will accelerate development cadence and improve capital efficiency. In 2026, we expect to participate in up to 4 gross wells (1 net). The first well was drilled and cased this month as a 3-mile completion (the first 3-mile well in the project), which is expected to begin production by June. Based on preliminary discussions with the operator, we see an additional 8-10 gross wells (2-2.5 net) drilled and completed in 2027. Going forward, we anticipate all Barnett wells in the project will be 3-mile laterals.
In late 2025, we closed the transformative acquisition of the Peak companies, with assets in the Powder River Basin ("PRB"), adding a new focus area with approximately 40,000 net acres in the core of the basin, along with an experienced operating team. Across the PRB, we now control over 100 highly economic net locations, with near-term development focused on 21 gross (15 net) Parkman locations that generate rates of return in excess of 60% at $65 oil. Our current 2026 plans include completing 2 gross Niobrara DUCs (0.7 net) in the second quarter, followed in the third and fourth quarters by the drilling and completion of up to 3 gross (2.8 net) Parkman wells, with production expected in the fourth quarter.
Looking ahead, we intend to build on the momentum created in 2025 when we grew adjusted EBITDA 75% and production 53% year over year. Our portfolio provides shareholders with a large and diversified portfolio of high-quality oil and natural gas inventory; non-operated partnerships with leading operators in the Permian and Marcellus; a minority interest in a free cash flow generating PA midstream asset; and a highly economic, operated, largely held by production (75%) acreage position in the PRB.
We believe Epsilon now represents one of the most compelling organic growth opportunities in the North American onshore upstream sector. We remain committed to our fixed dividend and expect to deliver meaningful per-share growth in earnings, cash flow, and production over the coming years, while targeting an average annual leverage ratio below 1.5X."
$M Q125 Q225 Q325 Q425 2025
---------------------- ------- ------- ------- -------- ------
GAAP Net Income (Loss) 4,016 1,551 1,072 -11,486 -4,847
------
One-time adjustments
----------------------
Transaction Costs 875 2,073 2,948
Impairment - NM 700 700
Impairment - Canada 7 2,670 559 3,236
Loss - Oklahoma Sale 19,257 19,257
Adj. Net Income 4,023 4,221 1,947 11,103 21,294
------ ------ ------ ------- ------
WA Shares O/S 22,110 22,202 22,160 25,966 23,021
------ ------ ------ ------- ------
P/Share $ 0.18 $ 0.19 $ 0.09 $ 0.43 $ 0.92
---------------------- ------ ------ ------ ------- ------
Reported net income (loss) is adjusted in the tables above by one-time expenses during the year. Adjusted net income is presented to show normalized performance over the year.
Transaction costs include advisory and legal services incurred by the Company related to the acquisition of the Peak companies.
The impairments in New Mexico and Canada impacted a total of 4 gross (0.7 net) wells and are the result of an offset frac hit impacting production (New Mexico) and low forward oil prices on December 31, 2025, which are required to be used in impairment testing.
Management believes the consideration received in the divestiture of the Oklahoma assets was very attractive (cash received + cash tax savings together were over 8X expected 2026 cash-flow from the assets). The write-off was primarily the balance held in undeveloped leasehold. The Oklahoma assets did not compete for capital in the Company portfolio. The divested Oklahoma assets represented 3% of the year-end 2025 Proved Developed Produced reserves and 3% of 2025 total Company production.
2025 Operations:
Epsilon's capital expenditures were $15.3 million for the year ended December 31, 2025 (excluding acquisitions), a 19% increase year over year. The spending was primarily related to the drilling and completion of 2 gross (0.5 net) Glauconitic wells in the Garrington area of Alberta, Canada ($9 million, including $4.9 million of drilling carry in favor of the operator) in the first half of the year, and the drilling and completion of 1 gross (0.25 net) Barnett well in Texas ($3.6 million, the eighth well in the project).
The Company expects the level of spending in 2026 will increase meaningfully year over year, with accelerated activity in the Permian, with up to 4 gross wells (including three 3-mile Barnett wells), the first operated activity in the PRB, with the completion of 2 gross (0.7 net) Niobrara wells and the drilling and completion of 3 gross (2.8 net) Parkman wells, and resumed activity in PA, with 5 gross (0.38 net) Marcellus wells to be developed during the year by our operating partner.
The Auburn Gas Gathering System (Epsilon is a 35% owner) gathered and delivered 40.5 Bcf gross natural gas volumes during the year, or 111 MMcf/d.
Q1 2026 Update:
During January 2026, the Company earned $11.4 million of revenue driven by very strong regional cash gas pricing in PA during the end of the month. While gas prices did not maintain those levels into the following month, the company expects strong quarter over quarter revenue and cash flow growth.
In March 2026, the Company made a $5 million repayment on its outstanding debt balance, leaving the current outstanding balance at $45.5 million.
The Company received 5 well proposals from our operating partner in PA (Expand Energy), totaling 0.38 net wells, with a weighted average lateral length of 15,000 CLL ft. The wells are planned to spud in late Q1 and Q2, with completion dates in the second half of the year.
Additionally, the Company went under contract to sell its owned office building in Durango, Colorado (which was acquired in the Peak acquisition), for $3 million. The sale is expected to close in the second quarter.
Reserves:
The Company has received the year-end 2025 third-party reserves reports completed by the engineering firms DeGolyer & MacNaughton ("D&M") and Cawley Gillespie & Associates ("CG&A"). The CG&A report only includes the Wyoming assets. CG&A was the third-party engineer for the assets before the acquisition by the Company. The table below summarizes the reports.
Epsilon Net Year End Reserves
-------------------------------------------------------------------------------------------------------------------------
12/31/2024 12/31/2025 YoY Change
------------------------------ -------------------------------- ----------------------------------------
Oil NGL Gas Total Oil NGL Gas Total Oil NGL Gas Total Total
----- ----- ------- ------- ------ ------ ------- ------- ------ ------ -------- ------- -----
Mbbl Mbbl MMcf Mmcfe Mbbl Mbbl MMcf Mmcfe Mbbl Mbbl MMcf Mmcfe %
----- ----- ------- ------- ------ ------ ------- ------- ------ ------ -------- ------- -----
Proved
Developed 847 490 56,851 64,872 4,000 1,599 75,849 109,444 3,153 1,109 18,998 44,572 69%
Proved
Undeveloped 725 387 12,551 19,225 5,259 753 10,523 46,594 4,534 366 (2,028) 27,369 142%
----- ----- ------- ------- ------ ------ ------- ------- ------ ------ ------- -------
Total Proved 1,572 877 69,402 84,097 9,259 2,352 86,372 156,037 7,687 1,475 16,970 71,940 86%
Total
Probable 380 384 137,906 142,487 26,318 13,090 262,283 498,729 25,938 12,706 124,377 356,242 250%
Total Proved
+ Probable 1,952 1,261 207,308 226,584 35,576 15,442 348,655 654,766 33,624 14,181 141,347 428,182 189%
------------- ----- ----- ------- ------- ------ ------ ------- ------- ------ ------ ------- ------- -----
As shown in the table above, Company Proved reserves increased 86% year over year, and Company Probable reserves increased by 250% year over year. The increase was driven by the acquisition of the Wyoming assets, adding 12.8 Mboe of Proved and 57.3 Mboe of Probable reserves.
The majority of the Company's inventory in Texas is not included in the reserve report, due to no offset producing wells in the Southern (undeveloped) portion of the project. The Company and the operating partner believe the unaccounted-for inventory is comparable to the existing wells in the project and expects to add meaningful reserves in Texas with incremental development.
Proved reserves for the Wyoming $(PRB)$ assets for year-end 2025 (77,028 MMcfe or 12,838 MBoe) were 40% lower than the year-end 2024 report, also provided by CG&A. This revision is almost entirely attributable to a more measured approach in the development pace assumption, which removed 25 gross wells and approximately $130 million of capital from the 5-year forward SEC window for the development of Proved reserves. The change is not due to reserve prospectivity. The development pace assumptions included in the reserve reports are subject to change.
The majority of the Company's inventory in PA and Wyoming is included in Probable reserves, due to the development of those reserves occurring outside of the 5-year forward SEC window for the development of Proved reserves.
Current Hedge Book:
Natural Gas Crude Oil
----- ----------------------------------------------- -----------------------------------------
Swaps Costless Collars Swaps Costless Collars
----------------- ---------------------------- --------------- ------------------------
Bought Bought Sold
Volume Price Volume Put Sold Call Volume Price Volume Put Call
Date (MMcf) ($/MMBtu) (MMcf) ($/MMBtu) ($/MMBtu) (MBbl) ($/Bbl) (MBbl) ($/Bbl) ($/Bbl)
----- ------ --------- ------ --------- --------- ------ ------- ------ ------- -------
1Q
2026 - - - - - 16 62.62 11 59.31 68.89
2Q
2026 455 3.89 581 3.34 4.94 79 62.83 3 59.78 70.01
3Q
2026 451 3.93 551 3.35 4.95 80 65.16 0 60.00 70.10
4Q
2026 178 3.87 783 3.35 5.10 39 62.71 28 59.00 69.00
FY
2026 1,084 $3.90 1,916 $3.34 $5.01 214 $63.67 43 $59.15 $69.06
1Q
2027 87 4.12 818 3.41 5.23 27 61.45 34 59.23 69.47
2Q
2027 91 3.49 793 3.21 4.81 36 64.05 22 55.94 66.02
3Q
2027 90 3.58 626 3.12 4.32 28 66.36 26 57.32 67.60
4Q
2027 44 3.95 201 3.28 4.39 14 62.32 36 57.30 67.55
FY
2027 312 $3.76 2,437 $3.26 $4.79 106 $63.76 118 $57.60 $67.82
1Q
2028 28 4.46 28 3.65 4.70 8 62.97 8 57.58 67.96
----- ------ --------- ------ --------- --------- ------ ------- ------ ------- -------
Earning's Call:
The Company will host a conference call to discuss its results on Wednesday, March 25, 2026, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time).
Interested parties in the United States and Canada may participate toll-free by dialing (833) 816-1385. International parties may participate by dialing (412) 317-0478. Participants should ask to be joined to the "Epsilon Energy 2025 Year End Earnings Conference Call."
A webcast can be viewed at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=EHvW1sm9. A webcast replay will be available on the Company's website (www.epsilonenergyltd.com) following the call.
About Epsilon
Epsilon Energy Ltd. is a North American onshore natural gas and oil production and gathering company with assets across the Appalachian, Powder River, Permian, and Western Canadian Sedimentary basins.
Forward-Looking Statements
Certain statements contained in this news release constitute forward looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", 'may", "will", "project", "should", 'believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated. Forward-looking statements are based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.
Contact Information:
281-670-0002
Jason Stabell
Chief Executive Officer
Jason.Stabell@EpsilonEnergyLTD.com
Andrew Williamson
Chief Financial Officer
Andrew.Williamson@EpsilonEnergyLTD.com
EPSILON ENERGY LTD.
Consolidated Statements of Operations
(All amounts stated in US$)
Year ended December 31,
-----------------------------
2025 2024
------------ -----------
Revenues from contracts with
customers:
Gas, oil, NGL, and condensate
revenue $ 44,903,821 $25,998,712
Gas gathering and compression
revenue 6,683,735 5,524,063
Total revenue 51,587,556 31,522,775
----------- ----------
Operating costs and expenses:
Lease operating expenses 12,518,325 7,264,824
Gathering system operating expenses 2,362,036 2,265,190
Depletion, depreciation,
amortization, and accretion 12,170,320 10,185,119
Impairment expense 3,936,669 1,450,076
Loss on sale of oil and gas
properties 19,256,530 --
Transaction costs 2,947,907 --
General and administrative
expenses:
Stock based compensation expense 1,744,917 1,244,416
Other general and administrative
expenses 7,168,235 5,688,714
Total operating costs and
expenses 62,104,939 28,098,339
----------- ----------
Operating (loss) income (10,517,383) 3,424,436
----------- ----------
Other income (expense):
Interest income 188,369 493,277
Interest expense (624,160) (46,400)
Gain (loss) on derivative
contracts, net 5,500,486 (391,147)
Other income, net 16,556 76,727
Other income, net 5,081,251 132,457
----------- ----------
Net (loss) income before income tax
expense (5,436,132) 3,556,893
Income tax (benefit) expense (589,535) 1,629,093
NET (LOSS) INCOME $ (4,846,597) $ 1,927,800
Currency translation adjustments (136,700) 262,588
Unrealized loss on securities -- (1,598)
NET COMPREHENSIVE (LOSS) INCOME $ (4,983,297) $ 2,188,790
=========== ==========
Net (loss) income per share, basic $ (0.21) $ 0.09
Net (loss) income per share, diluted $ (0.21) $ 0.09
Weighted average number of shares
outstanding, basic 23,020,672 21,930,277
Weighted average number of shares
outstanding, diluted 23,020,672 21,930,277
EPSILON ENERGY LTD.
Consolidated Balance Sheets
(All amounts stated in US$)
December 31, December 31,
2025 2024
------------- -------------
ASSETS
Current assets
Cash and cash equivalents $ 8,959,954 $ 6,519,793
Accounts receivable 16,132,501 5,843,722
Fair value of derivatives 2,694,340 --
Prepaid income taxes 2,949,311 975,963
Other current assets 1,847,672 792,041
Total current assets 32,583,778 14,131,519
------------ ------------
Non-current assets
Property and equipment:
Oil and gas properties,
successful efforts method
Proved properties 233,334,212 191,879,210
Unproved properties 79,307,169 28,364,186
Accumulated depletion,
depreciation, amortization
and impairment (131,636,141) (123,281,395)
Total oil and gas
properties, net 181,005,240 96,962,001
------------ ------------
Gathering system 43,540,389 43,116,371
Accumulated depletion,
depreciation, amortization
and impairment (37,472,139) (36,449,511)
Total gathering system, net 6,068,250 6,666,860
------------ ------------
Land 1,231,965 637,764
Buildings and other property
and equipment, net 4,132,732 259,335
Total property and
equipment, net 192,438,187 104,525,960
------------ ------------
Other assets:
Operating lease right-of-use
assets, long term 488,949 344,589
Restricted cash 553,000 470,000
Fair value of derivatives,
long term 1,154,936 --
Deferred financing costs 774,347 --
Prepaid drilling costs 246,220 982,717
Total non-current assets 195,655,639 106,323,266
------------ ------------
Total assets $ 228,239,417 $ 120,454,785
============ ============
LIABILITIES AND SHAREHOLDERS'
EQUITY
Current liabilities
Accounts payable trade $ 11,148,050 $ 2,334,732
Gathering fees payable 1,076,143 997,016
Royalties payable 8,702,526 1,400,976
Accrued capital expenditures 24,888 572,079
Accrued compensation 1,056,304 695,018
Other accrued liabilities 2,682,090 371,503
Fair value of derivatives -- 487,548
Operating lease liabilities 271,494 121,135
Total current liabilities 24,961,495 6,980,007
------------ ------------
Non-current liabilities
Credit facility payable 50,500,000 --
Ad valorem taxes, long term 7,411,971 --
Asset retirement obligations 7,437,960 3,652,296
Deferred income taxes 11,903,319 12,738,577
Operating lease liabilities,
long term 340,052 355,776
Total non-current
liabilities 77,593,302 16,746,649
------------ ------------
Total liabilities 102,554,797 23,726,656
------------ ------------
Commitments and contingencies
(Note 11)
Shareholders' equity
Preferred shares, no par
value, unlimited shares
authorized, none issued or
outstanding -- --
Common shares, no par value,
unlimited shares authorized
and 30,239,980 shares issued
and outstanding at December
31, 2025 and 22,008,766
issued and outstanding at
December 31, 2024 154,274,125 116,081,031
Additional paid-in capital 13,863,824 12,118,907
Accumulated deficit (52,349,896) (41,505,076)
Accumulated other
comprehensive income 9,896,567 10,033,267
Total shareholders' equity 125,684,620 96,728,129
------------ ------------
Total liabilities and
shareholders' equity $ 228,239,417 $ 120,454,785
============ ============
EPSILON ENERGY LTD.
Consolidated Statements of Cash Flows
(All amounts stated in US$)
Year ended December 31,
2025 2024
Cash flows from operating
activities:
Net income $ (4,846,597) $ 1,927,800
Adjustments to reconcile net
income to net cash provided by
operating activities:
Depletion, depreciation,
amortization, and accretion 12,190,729 10,185,119
Impairment expense 3,936,669 1,450,076
Accretion of discount on
available for sale
securities -- (297,637)
Amortization on deferred
financing costs 44,510 --
Loss on sale of oil and gas
properties 19,256,530 --
(Gain) loss on derivative
contracts (5,500,486) 391,147
Settlement received on
derivative contracts 1,163,662 1,196,656
Settlement of asset retirement
obligation (1,600) (88,992)
Stock-based compensation
expense 1,744,917 1,244,416
Deferred income tax (benefit)
expense (835,258) 1,184,634
Changes in assets and
liabilities, net of assets and
liabilities acquired in
business combination:
Accounts receivable (1,608,792) 171,726
Prepaid income taxes (1,973,348) (23,662)
Other assets and liabilities (10,365) (17,828)
Accounts payable, royalties
payable, gathering fees
payable, and other accrued
liabilities (2,940,888) (493,176)
Net cash provided by operating
activities 20,619,683 16,830,279
----------- -----------
Cash flows from investing
activities:
Additions to unproved oil and
gas properties (6,999,905) (4,507,280)
Additions to proved oil and gas
properties (7,929,773) (31,695,651)
Additions to gathering system
properties (465,203) (341,452)
Additions to land, buildings and
property and equipment 270,488 (16,513)
Purchases of short term
investments - available for
sale -- (4,045,785)
Proceeds from short term
investments - held to maturity -- 6,743,178
Proceeds from short term
investments - available for
sale -- 16,373,752
Net asset acquired in business
combination (49,754,846) --
Proceeds from sale of oil and
gas properties 2,500,000 --
Prepaid drilling costs 736,497 831,091
Net cash used in investing
activities (61,642,742) (16,658,660)
----------- -----------
Cash flows from financing
activities:
Buyback of common shares -- (1,831,208)
Borrowings on credit facility 50,500,000 --
Dividends paid (5,998,223) (5,486,834)
Deferred financing costs (818,857) --
Net cash provided by (used in)
financing activities 43,682,920 (7,318,042)
----------- -----------
Effect of currency rates on
cash, cash equivalents, and
restricted cash (136,700) 262,588
----------- -----------
Increase (decrease) in cash,
cash equivalents, and
restricted cash 2,523,161 (6,883,835)
Cash, cash equivalents, and
restricted cash, beginning of
period 6,989,793 13,873,628
Cash, cash equivalents, and
restricted cash, end of period $ 9,512,954 $ 6,989,793
=========== ===========
Supplemental cash flow
disclosures:
Income tax paid - federal $ 1,417,860 $ 414,250
Income tax paid - state (PA) $ 755,138 $ --
Income tax paid - state (other) $ 3,986 $ (2,071)
Interest paid $ 9,935 $ 16,832
Non-cash investing activities:
Change in proved properties
accrued in accounts payable $ (937,079) $ (862,744)
Change in gathering system accrued
in accounts payable $ (41,186) $ 36,645
Asset retirement obligation asset
additions and adjustments $ 25,195 $ 54,902
Year ended December 31,
2025 2024
Net (loss) income $(4,846,597) $ 1,927,800
Add Back:
Interest expense (income), net 435,791 (446,877)
Income tax (benefit) expense (589,535) 1,629,093
Depreciation, depletion,
amortization, and accretion 12,170,320 10,185,119
Impairment expense 3,936,669 1,450,076
Stock based compensation expense 1,744,917 1,244,416
Loss on sale of assets 19,256,530 --
Transaction costs 2,947,907
(Gain) loss on derivative
contracts net of cash received or
paid on settlement (4,336,824) 1,587,803
Foreign currency translation loss 24,805 570
Adjusted EBITDA $30,743,983 $17,578,000
========== ==========
Epsilon defines Adjusted EBITDA as earnings before (1) net interest expense, (2) taxes, (3) depreciation, depletion, amortization and accretion expense, (4) impairments of natural gas and oil properties, (5) non-cash stock compensation expense, (6) gain or loss on sale of assets, (7) gain or loss on derivative contracts net of cash received or paid on settlement, (8) transaction costs, and (9) gain or loss on foreign currency translation. Adjusted EBITDA is not a measure of financial performance as determined under U.S. GAAP and should not be considered in isolation from or as a substitute for net income or cash flow measures prepared in accordance with U.S. GAAP or as a measure of profitability or liquidity.
Additionally, Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. Epsilon has included Adjusted EBITDA as a supplemental disclosure because its management believes that EBITDA provides useful information regarding its ability to service debt and to fund capital expenditures. It further provides investors a helpful measure for comparing operating performance on a "normalized" or recurring basis with the performance of other companies, without giving effect to certain non-cash expenses and other items. This provides management, investors and analysts with comparative information for evaluating the Company in relation to other natural gas and oil companies providing corresponding non-U.S. GAAP financial measures or that have different financing and capital structures or tax rates. These non-U.S. GAAP financial measures should be considered in addition to, but not as a substitute for, measures for financial performance prepared in accordance with U.S. GAAP.
Epsilon defines Adjusted Net Income as reported U.S. GAAP Net Income adding back expenses related to (1) transaction expenses related to the Peak companies acquisition, (2) impairments of natural gas and oil properties, and (3) gain or less on sale of assets. Adjusted Net Income is not a measure of financial performance as determined under U.S. GAAP and should not be considered in isolation from or as a substitute for net income or cash flow measures prepared in accordance with U.S. GAAP or as a measure of profitability or liquidity.
(END) Dow Jones Newswires
March 24, 2026 17:19 ET (21:19 GMT)
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