Matador Resources (MTDR) Q4 Results - Feb 18

[dan_s]

Matador Resources Company (NYSE: MTDR) ("Matador" or the "Company") today reported financial and operating results for the fourth quarter and full year 2024, announced an increase to Matador’s dividend and provided an update on its 2025 operating plan. A slide presentation summarizing the highlights of Matador’s fourth quarter and full year 2024 earnings release and 2025 operating plan is also included on the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab.

Management Summary Comments

In summarizing the year, Joseph Wm. Foran, Matador’s Founder, Chairman and CEO, noted, "Before I report that 2024 was another record year for Matador, I want to express my appreciation to each of our shareholders, office and field staff, board members, management, vendors, banks, partners and other stakeholders for their continued interest, friendship and support in making these results happen. It has been a team effort. Building on our 2024 plans, our 2025 plan is again expected to yield record results. The Matador team and I are excited to discuss not only our 2024 accomplishments with you but also the opportunities we have in front of us for 2025.

Dividend Increase

"First, I am pleased to announce that Matador’s Board of Directors (the ‘Board’) has approved a 25% increase in Matador’s dividend policy, raising the dividend from $1.00 annually, or $0.25 per quarter, to $1.25 annually, or $0.3125 per quarter.

Highlights

Fourth Quarter 2024 Operational and Financial Highlights

Record quarterly average production of 201,116 BOE per day (118,440 barrels of oil per day) < Beat my production forecast of 199,000 Boepd (117,410 barrels of oil per day).

Net cash provided by operating activities of $575.0 million < Close to my forecast.

Adjusted free cash flow of $415.5 million

Net income of $214.5 million, or $1.71 per diluted common share

Adjusted net income of $229.9 million, or $1.83 per diluted common share < Beat my forecast of $208 million net income.

Adjusted EBITDA of $640.9 million

San Mateo net income of $47.8 million

San Mateo Adjusted EBITDA of $68.5 million
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I will update my forecast/valuation model in the morning.