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Monday, February 18, 2019

CLR Posts Its February 2019 Investor Update; CY18 And 4Q18 Financial Results

Updates

February 20, 2019: contributor over at SeekingAlpha looks at CLR's 4Q18 and CY18 results. Archived.
  • The company was apparently free cash flow positive and posted $1.0 billion in GAAP net income last year.
  • Rising oil & gas production tax rates in Oklahoma and production expense increases will contend with falling DD&A per BOE expenses according to guidance.
February 19, 2019: earnings were reported after hours yesterday; before earnings came out, CLR was up about 3.5%; this morning, with the overall market down a bit, CLR is down almost 7%.
 
Original Post
 
Link here.

From SeekingAlpha, misses on top and bottom line:
  • Q4 non-GAAP EPS of $0.54 misses by $0.07
  • GAAP EPS of $0.53 misses by $0.07
  • revenue of $1.15B (+9.5% Y/Y) misses by $30 million
Press release.

Briefly:
  • net income, CY18: $988 million; adjusted, $1.07 billion
  • per share: $2.64; adjusted, $2.84
  • total production:
    • 298,190 boepd
      • up 23% yoy
    • 168,177 bopd
      • up 21% yoy
  • debt reduction over one year: $585 million
  • cash build over one year: $239 million
  • production expense per boe: $3.59; 36% reduction in last four years

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