Vivakor's Q2 Turnaround: $0.2 Million Operating Income Amid Wider Per-Share Loss
Vivakor (NASDAQ: VIVK) has reported a significant turnaround in its second-quarter operating income, despite a widening per-share loss. The company achieved an operating income of approximately $0.2 million, compared to an operating loss of $6.8 million in the same period last year.
The improvement coincided with a 10% increase in quarterly revenue, which reached $32.1 million from $29.1 million in the prior-year period. The top-line growth was primarily driven by the expansion of Vivakor's crude oil supply and trading activities.
Gross profit increased by 45% to $6.6 million, up from $4.6 million, as gross margin expanded to 20.7% from 15.7%. This margin improvement reflected better profitability across midstream operations and the continued scaling of Supply & Trading activities.