Matador Resources (MTDR) Q4 Results - Feb 21

[dan_s]

Fourth Quarter 2023 Operational and Financial Highlights

Record quarterly average production of 154,300 BOE per day (88,700 barrels of oil per day) < Beat my forecast of 145,500 by a wide margin. Matador completes wells in "bunches", so it often has spikes in production. Plus, they like to "Over-Promise and Under-Deliver" on production guidance.

Net cash provided by operating activities of $618.3 million < My Adjusted Operating Cash Flow forecast was $537.2 million.

Adjusted free cash flow of $180.5 million

Net income of $254.5 million, or $2.12 per diluted common share

Adjusted net income of $238.4 million, or $1.99 per diluted common share < Comparable to my forecast of $243.8 million net income. Remember that operating cash flow is much more important to my valuations than net income, which includes a lot of non-cash items.

Adjusted EBITDA of $552.8 million

San Mateo net income of $43.7 million

San Mateo Adjusted EBITDA of $61.6 million
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Conclusion: Another outstanding quarter for this profitable Aggressive Growth Company. Double digit production growth year after year.

[Fraser921]

I think this one will be a home run. My favorite in Sweet 16!

.. and a potential take over canidate