Coterra Energy Q2 2022 net income $1,229M ($1.53/share); raises capex and production guidance

Coterra Energy Inc.

2022-Q2 EPS reported $2.27 revenue$4,251,000,000

Net income $1,229M or $1.53/share; adjusted net income $1,083M or $1.35/share.
Total equivalent production 632 MBoepd exceeded high-end of guidance.
Approved quarterly dividend of $0.65/share ($0.15 base, $0.50 variable) payable Aug 25.
Repurchased 11.0M shares for $303M in Q2; $763M remaining on $1.25B authorization.
2022 capex guidance raised to $1.6-1.7B; full-year production guidance increased 1% at midpoint.

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