Ring Energy Q1 net income $32.7M, record sales 18,292 Boe/d, reiterates FY outlook

RING ENERGY, INC.

2023-FY EPS reported $0.17 revenue$88,082,912

Record Q1 sales volumes of 18,292 Boe/d (69% oil), at high end of 17,800-18,300 Boe/d guidance.
Net income $32.7M ($0.17 diluted), up from $14.5M in Q4 2022; Adjusted Net Income $25.0M ($0.14).
Record Adjusted EBITDA $58.6M, up 4% from Q4 2022; Free Cash Flow $10.5M, cash flow positive 14th consecutive quarter.
Reiterated full year 2023 sales volume guidance of 17,800-18,800 Boe/d; Q2 guidance 17,900-18,400 Boe/d.
Early exercise of 14.5M warrants at $0.62/share raised $9.0M; ~78,200 warrants remain.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RING ENERGY, INC. reported first quarter ended March 31, 2023 results: net income $32.7 million, EPS $0.17 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Net income: $32.7 million
EPS: $0.17 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Reported net income of $32.7 million, or $0.17 per diluted share, in the first quarter of 2023

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Source: SEC EDGAR

accession 0001628280-23-015798

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