Gulfport Q1 net income $523M, beats consensus; production up 5% YoY; borrowing base raised to $1.1B

GULFPORT ENERGY CORP

2023-Q1 EPS reported $22.90 revenue$731,221,000

Net income of $523.1M ($22.90 diluted EPS) vs net loss of $492M in Q1 2022.
Adjusted EBITDA of $229.7M; adjusted free cash flow of $63.1M in Q1 2023.
Net production 1,057.4 MMcfe/d, above analyst consensus; Utica 738.5 MMcfe/d, SCOOP 318.9 MMcfe/d.
Reduced total debt by $145M from Dec 2022; no revolver borrowings at March 31; borrowing base increased to $1.1B.
Reaffirmed 2023 capex $425-475M; production trending to high end of 1,000-1,040 MMcfe/d guidance range.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GULFPORT ENERGY CORP reported First Quarter 2023 results: net income $523.1 million. Guidance reaffirmed.

Period: First Quarter 2023
Net income: $523.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First Quarter 2023 and Recent Highlights ● Delivered total net production of 1,057.4 MMcfe per day, above analyst consensus expectations ● Reported $523.1 million of net income and $229.7 million of adjusted EBITDA

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Source: SEC EDGAR

accession 0001213900-23-035561

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