NYSE$EXE

Expand Energy Corp · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported first quarter results for 2022.

Chesapeake Energy Corporation reported strong first quarter results for 2022, including record quarterly adjusted free cash flow of $532 million and adjusted EBITDAX of $913 million. The company initiated a share repurchase program, retiring $83 million of common shares, and increased its 2022 adjusted EBITDAX and free cash flow guidance.

  • Net cash provided by operating activities was $853 million.
  • Adjusted free cash flow was $532 million, the highest quarterly amount in company history.
  • Net loss totaled $764 million, or $6.32 per diluted share; adjusted net income of $436 million, or $3.09 per diluted share.
  • Adjusted EBITDAX was $913 million.

Headline financials

Total Revenue

$935M

Previous: $880M+6.3%
EPS (adj)

$3.09

Previous: $1.48+108.8%
Adjusted EBITDAX

$913M

No prior period
Capital Expenditures

-$344M

Previous: -$77M-346.8%
Free Cash Flow

$509M

Previous: $332M+53.3%
Net Income

-$764M

Previous: $295M-359.0%
Operating Income

-$794M

Previous: $285M-378.6%
Gross Profit

$935M

Previous: $880M+6.3%
Cash & Equivalents

$19M

Previous: $340M-94.4%
Total Assets

$13.3B

Previous: $6.9B+92.5%
Stock-Based Comp

$4M

No prior period

Revenue & EPS history

Chesapeake · Revenue · Quarterly

$935M

Q1 2022+6.3%vs Q1 2021
Beat estimate in 5 of 11 quarters(45%)
ActualEstimate

Revenue by segment

Chesapeake · $398M total across 1 segment · Q4 2019

  • Natural Gas, Oil and NGL
    $398M—

Forward guidance

Chesapeake Energy increased its 2022 adjusted EBITDAX guidance to $4.6 – $4.8 billion and adjusted free cash flow to $2.6 – $2.8 billion.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+0.3%

Avg return

Earnings day

+1.3%

Avg return

5 days after

+4.9%

Avg return

30 days after

52%

11 / 21 earnings

Positive

+7.9%

Q1 2022

Best reaction

-6.8%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025———
Q1 2026+0.9%+3.9%-4.1%
Q4 2025-2.4%+0.4%+4.4%
Q3 2025-6.1%+9.0%+20.7%
Q1 2025-3.3%+0.8%+8.1%
Q4 2024-4.6%-1.7%+8.3%
Q3 2024+3.9%-1.9%+15.8%
Q2 2024-2.0%-6.9%-7.5%
Q1 2024-6.8%-6.8%-3.3%
Q4 2023+6.5%+4.1%+9.6%
Q3 2023+1.5%+4.4%-6.2%
Q2 2023-2.2%+1.2%+4.6%
Q1 2023-6.3%-4.4%-7.4%
Q4 2022-0.5%+6.6%-8.7%
Q3 2022+1.5%-1.4%-0.1%
Q2 2022+1.2%+1.7%+8.4%
Q1 2022+7.9%-4.4%+11.5%
Q4 2021+6.9%+16.4%+34.6%
Q3 2021+2.7%+0.0%-7.5%
Q2 2021+5.3%+5.0%+12.0%
Q1 2021-0.2%-1.4%+12.1%
Q4 2020+2.5%+1.9%-1.8%
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