Koil Energy reports Q1 EPS 0c vs. 5c last year

Reports Q1 revenue $5.25M vs. $5.79M last year. Erik Wiik, President and Chief Executive Officer of KOIL Energy (KLNG), stated, “After four consecutive quarters of stellar performance, these results fell short of our expectations. We increased our base cost structure in response to last year’s elevated revenue levels, without adequately accounting for the inherent volatility in fixed-price contracts. We always knew our growth journey would have its ups and downs, and while this quarter presented a challenge, it reinforces our commitment to carefully building sustainable momentum and delivering long-term value to our shareholders. “