Empire Petroleum (Empire Petroleum) Gross Profit

: $5.38 Mil (TTM As of Dec. 2023)

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Empire Petroleum's gross profit for the three months ended in Dec. 2023 was $0.15 Mil. Empire Petroleum's gross profit for the trailing twelve months (TTM) ended in Dec. 2023 was $5.38 Mil.

Gross Margin % is calculated as gross profit divided by its revenue. Empire Petroleum's gross profit for the three months ended in Dec. 2023 was $0.15 Mil. Empire Petroleum's Revenue for the three months ended in Dec. 2023 was $9.91 Mil. Therefore, Empire Petroleum's Gross Margin % for the quarter that ended in Dec. 2023 was 1.51%.

Empire Petroleum had a gross margin of 1.51% for the quarter that ended in Dec. 2023 => No sustainable competitive advantage

During the past 13 years, the highest Gross Margin % of Empire Petroleum was 89.77%. The lowest was 13.39%. And the median was 39.06%.

Warning Sign:

Empire Petroleum Corp gross margin has been in long-term decline. The average rate of decline per year is -22.8%.

Empire Petroleum Gross Profit Historical Data

The historical data trend for Empire Petroleum's Gross Profit can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Empire Petroleum Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Profit

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2.09

2.53

9.79

23.80

5.38

Empire Petroleum Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Gross Profit	Get a 7-Day Free Trial															3.11	2.22	1.25	1.76	0.15

Competitive Comparison

For the Oil & Gas E&P subindustry, Empire Petroleum's Gross Profit, along with its competitors' market caps and Gross Profit data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Empire Petroleum Gross Profit Distribution

For the Oil & Gas industry and Energy sector, Empire Petroleum's Gross Profit distribution charts can be found below:

* The bar in red indicates where Empire Petroleum's Gross Profit falls into.

Empire Petroleum Gross Profit Calculation

Gross Profit is the different between the sale prices and the cost of buying or producing the goods.

Empire Petroleum's Gross Profit for the fiscal year that ended in Dec. 2023 is calculated as

Gross Profit (A: Dec. 2023 )	=	Revenue	-	Cost of Goods Sold
	=	40.142	-	34.766
	=	5.38

Empire Petroleum's Gross Profit for the quarter that ended in Dec. 2023 is calculated as

Gross Profit (Q: Dec. 2023 )	=	Revenue	-	Cost of Goods Sold
	=	9.914	-	9.764
	=	0.15

Gross Profit for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $5.38 Mil.

Gross Profit is the numerator in the calculation of Gross Margin.

Empire Petroleum's Gross Margin % for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	0.15	/	9.914
	=	1.51 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Empire Petroleum (AMEX:EP) Gross Profit Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Empire Petroleum had a gross margin of 1.51% for the quarter that ended in Dec. 2023 => No sustainable competitive advantage

Empire Petroleum Gross Profit Related Terms

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Empire Petroleum (Empire Petroleum) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Empire Petroleum Corp (AMEX:EP) » Definitions » Gross Profit

Comparable Companies

Traded in Other Exchanges

N/A

Address

2200 South Utica Place, Suite 150, Tulsa, OK, USA, 74114

Website

http://www.empirepetroleumcorp.com

Empire Petroleum Corp is engaged in the exploration and development of oil and natural gas in the United States. All of the company's producing properties are located in Louisiana, Texas, North Dakota, and New Mexico. It generates revenue from Oil and Gas sales.

Executives

Marchive Benjamin J. Ii	director	1021 MAIN STREET, SUITE 2626, HOUSTON TX 77002-6516
Energy Evolution Master Fund, Ltd.	10 percent owner	25025 I-45 NORTH, SUITE 420, THE WOODLANDS TX 77380
J Kevin Vann	officer: VP, Finance/Strategic Planning	ONE WILLIAMS CENTER, SUITE 3800, TULSA OK 74172
Phil E Mulacek	10 percent owner	25025 I 45 NORTH, SUITE 420, THE WOODLANDS TX 77380
Mason H. Matschke	director	25025 I-45 NORTH, SUITE 420, THE WOODLANDS TX 77380
Faulkner Stephen L Jr	officer: Controller and Chief Acctg Ofc	3500 ONE WILLIAMS CENTER, TULSA OK 74172
Eugene J Sweeney	officer: Chief Operating Officer	151 W BURTON PL, CHICAGO IL 60610
Michael R. Morrisett	10 percent owner	3803 S. TRENTON AVENUE, TULSA OK 74105-3324
Thomas W. Pritchard	officer: Chief Executive Officer	15798 SPYGLASS HILL LOOP, GAINESVILLE VA 20155
Andrew Lloyd Lewis	director	2200 S. UTICA PLACE, SUITE 150, TULSA OK 74114
Angela M Baker	officer: Chief Accounting Officer	2200 S. UTICA PLACE, SUITE 150, TULSA OK 74114
Puckett Land Co	10 percent owner	5460 S. QUEBEC ST., SUITE 250, GREENWOOD VILLAGE CO 80111
Tony Kamin	director, 10 percent owner	619 BLUFF STREET, GLENCOE IL 60022
Gary C Adams	10 percent owner	1437 S. BOULDER AVENUE, SUITE 930, TULSA OK 74119
Empire Petroleum Holdings, Llc	10 percent owner	3803 S. TRENTON AVENUE, TULSA OK 74105-3324

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