Gulfport Energy Q1 net income $52M, adjusted EBITDA $185.7M above consensus; production in line

GULFPORT ENERGY CORP

2024-Q1 EPS reported $2.34 revenue$283,229,000

Net income $52M ($2.34 diluted EPS), down from $523M in Q1 2023; adjusted EBITDA $185.7M above consensus.
Total production 1,053.7 MMcfe/d in line; natural gas avg price $2.13/Mcf (ex-hedges), down from $3.32 YoY.
Capital expenditures $124.4M below expectations; full-year D&C guidance $330-360M reaffirmed.
Reduced revolver borrowings by $31M; liquidity $757.4M as of March 31.
Repurchased 210k shares for $29.5M in Q1; $220.9M remaining under buyback program.

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 the three months ended March 31, 2024 results: net income $52.0 million. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Net income: $52.0 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On April 30, 2024, Gulfport Energy Corporation (“Gulfport”) issued a press release reporting its financial and operational results for the three months ended March 31, 2024, and provided an update on its 2024 development plan and financial position.

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Source: SEC EDGAR

accession 0001213900-24-037832

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