Gulfport Q3 net income $608.4M, production beats consensus; raises FY guidance

GULFPORT ENERGY CORP

2023-Q3 EPS reported $55.08 revenue$1,302,594,000

Net income $608.4M ($27.37 diluted EPS) vs. loss of $18.5M a year ago; adjusted EBITDA $160.0M.
Total net production 1,056.9 MMcfe/d, above consensus; raises FY2023 guidance to 1,045-1,055 MMcfe/d.
Cuts FY base capex to $435-455M vs. prior $450-470M; cites $35M in drilling savings reinvested.
Share repurchase authorization expanded 63% to $650M; $315.4M remaining after $334.6M spent.
Borrowing base reaffirmed at $1.1B; elected commitments stay at $900M.

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 three months ended September 30, 2023 results: net income $608.4 million.

Period: three months ended September 30, 2023
Net income: $608.4 million
Result: reported results

Exact text from the filing

Third Quarter 2023 and Recent Highlights ● Delivered total net production of 1,056.9 MMcfe per day, above analyst consensus expectations ● Reported $608.4 million of net income and $160.0 million of adjusted EBITDA (1) , above analyst consensus expectations ● Generated $156.3 million of net cash provided by operating activities and $48.9 million of adjusted free cash flow (1) ,

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GULFPORT ENERGY CORP updated its full year 2023 guidance (raised).

Period: full year 2023
Guidance: raised
Result: guidance update

Exact text from the filing

Raising full year 2023 net production guidance to 1,045 MMcfe - 1,055 MMcfe per day

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Source: SEC EDGAR

accession 0001213900-23-081819

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