Gulfport Energy Q2 beat; raises FY production guidance, cuts cost outlook

GULFPORT ENERGY CORP

2023-Q2 EPS reported $27.60 revenue$1,035,927,000

Net production 1,039.3 MMcfe/d above consensus; net income $93.7M, adjusted EBITDA $144.5M.
Raises FY 2023 production guidance 1-3% to 1,035-1,055 MMcfe/d; reduces unit costs ~4% to $1.16-1.24/Mcfe.
Capital expenditures $129.3M in Q2, below consensus; FY capex reaffirmed $425-475M.
Repurchased 441.5K shares for $41.4M in Q2; total repurchases ~3.8M shares for $325M since program start.
Completed 1.5M share secondary offering; plans ~$40M for discretionary acreage acquisitions extending inventory ~1.5 years.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

GULFPORT ENERGY CORP reported three months ended June 30, 2023 results: revenue $93.7 million of net income, net income $93.7 million. Guidance raised.

Period: three months ended June 30, 2023
Revenue: $93.7 million of net income
Net income: $93.7 million
Guidance: raised
Result: reported results

Exact text from the filing

plan and financial guidance. Second Quarter 2023 and Recent Highlights ● Delivered total net production of 1,039.3 MMcfe per day, above analyst consensus expectations ● Reported $93.7 million of net income and $144.5 million of adjusted EBITDA (1) , above analyst consensus expectations ● Per unit operating costs (2) totaled $1.16 per Mcfe, below analyst consensus

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Source: SEC EDGAR

accession 0001213900-23-061951

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