BKV reports Q3 2024 net income $12.9M, revenue $173.1M; first public earnings

BKV Corp

2024-Q3 EPS reported -$1.28 revenue$430,272,000

Net income $12.9M ($0.18 diluted EPS) vs $18.6M in Q3 2023; Adjusted Net Loss $(18.6)M.
Revenue $173.1M, down from $191.4M YoY due to lower natural gas prices and volumes.
Completed IPO of 15M shares on Sept 27, 2024; net debt $158.7M, leverage 0.8x.
Average realized gas price $1.58/MMBtu ex hedges ($2.21/MMBtu with hedges); production 762.6 MMcfe/d.
Adjusted Free Cash Flow $19.6M vs negative $11.2M in prior year; margin 14.2%.

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