earnings
confidence high
sentiment positive
materiality 0.80
Gulfport Energy reports Q3 net loss $461M, raises free cash flow guidance to $345-365M, authorizes $100M buyback
GULFPORT ENERGY CORP
2021-Q3 EPS reported
-$32.87
revenue$-236,804,000
- Net loss of $461.3M for Successor period (May 18-Sep 30) includes $622.5M derivative loss; generated $69.7M Free Cash Flow.
- Average daily production 973.3 MMcfe (89% gas); total sales $379.9M, roughly doubled from $190.0M a year ago.
- 2021 free cash flow guidance raised to $345-365M from prior midpoint; production guidance narrowed to 980-1,000 MMcfe/d.
- Board authorized $100M stock repurchase program through Dec 31, 2022; credit facility amended to $700M, maturity to Oct 2025.
- Recurring cash G&A guidance reduced to $42-44M ($3M cut from prior midpoint); monetized Bakken royalties for $3.8M.