NASDAQ$HPK
HighPeak Energy Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Announced third quarter 2024 financial and operating results.
HighPeak Energy reported a positive third quarter in 2024, marked by increased production, positive free cash flow, and debt reduction. The company's well performance led to an increase in full-year production guidance, and operations teams tightened costs, resulting in capital and operating efficiencies.
- Sales volumes averaged 51,346 Boe/d, consisting of 88% liquids, a 6% increase over the second quarter 2024.
- Net income was $49.9 million, or $0.35 per diluted share, and EBITDAX was $214.3 million, or $1.51 per diluted share.
- Generated free cash flow of $36.1 million, marking the fifth consecutive quarter of positive free cash flow generation.
- Reduced long-term debt by $30 million during the third quarter and repurchased over 870,000 shares.
Headline financials
Revenue & EPS history
HighPeak Energy · Revenue · Quarterly
$272M
Forward guidance
HighPeak Energy increased its 2024 average production guidance and reaffirmed its LOE range and tightened capital expenditure range for 2024.
Tailwinds
- Increased 2024 average production guidance by more than 5% from the second quarter guidance revision.
- Increased 2024 average production guidance by 10% from our original 2024 guidance.
- Expects a range of 48,000 to 51,000 Boe/d for the full year 2024.
- Maintaining disciplined operations.
- Strengthening balance sheet and maximizing value for shareholders.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+0.2%
Avg return
Earnings day
-1.3%
Avg return
5 days after
+6.5%
Avg return
30 days after
46%
13 / 28 earnings
Positive
+15.9%
Q3 2024
Best reaction
-11.9%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -9.0% | -12.1% | +11.5% | |
| Q4 2025 | -2.7% | +14.5% | +8.4% | |
| Q3 2025 | -1.0% | -7.3% | -0.2% | |
| Q1 2025 | +3.4% | -1.2% | +14.0% | |
| Q4 2024 | -7.4% | +1.4% | -28.3% | |
| Q3 2024 | +15.9% | +13.6% | +16.5% | |
| Q2 2024 | +7.0% | +11.4% | -0.8% | |
| Q1 2024 | +9.2% | -2.8% | -3.5% | |
| Q4 2023 | +1.2% | -5.8% | -1.0% | |
| Q3 2023 | -3.4% | -7.5% | -15.2% | |
| Q2 2023 | -2.8% | -0.8% | +5.4% | |
| Q1 2023 | +1.2% | -13.8% | -6.3% | |
| Q4 2022 | -10.7% | -19.5% | -16.6% | |
| Q3 2022 | +6.2% | -2.2% | -12.5% | |
| Q2 2022 | -0.8% | -1.4% | +14.3% | |
| Q1 2022 | +8.5% | -1.5% | +25.8% | |
| Q4 2021 | -11.0% | -9.4% | -7.0% | |
| Q3 2021 | -2.0% | -0.1% | +5.7% | |
| Q2 2021 | -3.3% | -18.3% | -14.3% | |
| Q1 2021 | +5.0% | +9.3% | +17.6% | |
| Q4 2020 | -11.9% | -6.7% | +13.2% | |
| Q3 2020 | +13.8% | +22.2% | +151.1% | |
| Q2 2020 | +0.5% | +0.9% | +1.1% | |
| Q1 2020 | +0.5% | +0.7% | +0.9% | |
| Q4 2019 | +0.0% | +0.0% | +0.7% | |
| Q3 2019 | +0.0% | -0.1% | +0.1% | |
| Q2 2019 | +0.3% | +0.2% | +0.3% | |
| Q1 2019 | +0.0% | +0.3% | +0.5% |
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