Matador Resources (MTDR) Q1 Results - April 23
Posted: Tue Apr 23, 2024 3:53 pm
By now you all should know that Matador likes to "Under-Promise and Over-Deliver" on production guidance.
First Quarter 2024 Matador Operational and Financial Highlights
Average production of 149,760 BOE per day (84,777 barrels of oil per day) < Beat my forecasts of 144,500 Boepd and 83,000 BOPD)
Net cash provided by operating activities of $468.6 million
Adjusted free cash flow of $28.6 million
Net income of $193.7 million, or $1.61 per diluted common share
Adjusted net income of $206.2 million, or adjusted earnings of $1.71 per diluted common share < Beat my forecast of $1.40 EPS.
Adjusted EBITDA of $505.4 million
San Mateo net income of $39.7 million
San Mateo Adjusted EBITDA of $58.2 million
D/C/E capital expenditures of $350.7 million
Midstream capital expenditures of $79.3 million
Full year production guidance has been increased. My valuation will be increasing. I will update my forecast/valuation model tomorrow.
First Quarter 2024 Matador Operational and Financial Highlights
Average production of 149,760 BOE per day (84,777 barrels of oil per day) < Beat my forecasts of 144,500 Boepd and 83,000 BOPD)
Net cash provided by operating activities of $468.6 million
Adjusted free cash flow of $28.6 million
Net income of $193.7 million, or $1.61 per diluted common share
Adjusted net income of $206.2 million, or adjusted earnings of $1.71 per diluted common share < Beat my forecast of $1.40 EPS.
Adjusted EBITDA of $505.4 million
San Mateo net income of $39.7 million
San Mateo Adjusted EBITDA of $58.2 million
D/C/E capital expenditures of $350.7 million
Midstream capital expenditures of $79.3 million
Full year production guidance has been increased. My valuation will be increasing. I will update my forecast/valuation model tomorrow.