NYSE$EXE

Expand Energy Corp · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Chesapeake reported a net loss and adjusted EBITDAX was up 19% year over year.

Chesapeake Energy Corporation reported a net loss of $324 million for Q4 2019. However, the adjusted EBITDAX increased by 19% year over year. The company is targeting free cash flow and reducing capital expenditure budget by approximately 30% in 2020.

  • Delivered fourth quarter oil production of 126,000 barrels (bbls) of oil per day and increasing our oil mix to 26% of total production, the highest percentage in company history.
  • Adjusted EBITDAX growth of 19%, or 15% per barrel of oil equivalent (boe), compared to the 2018 fourth quarter, when we had significantly higher commodity prices.
  • Eliminated approximately $900 million in debt through capital markets transactions, and consolidating our $1.5 billion Brazos Valley unrestricted subsidiary.
  • Plan to allocate approximately 80% of our projected 2020 capital expenditure program of $1.3 to $1.6 billion to our highest-margin oil opportunities.

Headline financials

Total Revenue

$1.9B

Previous: $3.07B-38.2%
EPS (adj)

-$0.04

Previous: $0.21-119.0%
Produced Bcfe/d net

477.0K

No prior period
Adjusted EBITDAX

$665M

No prior period
Net Income

-$324M

Previous: $513M-163.2%
Operating Income

-$173M

Previous: $294M-158.8%
Gross Profit

$1.93B

Previous: $3.07B-37.2%
Cash & Equivalents

$6M

Previous: $4M+50.0%
Total Assets

$16.2B

Previous: $12.7B+27.2%
Stock-Based Comp

$6M

Previous: $7M-14.3%

Revenue & EPS history

Chesapeake · Revenue · Quarterly

$1.9B

Q4 2019-38.2%vs Q4 2018
Beat estimate in 11 of 14 quarters(79%)
ActualEstimate

Revenue by segment

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

  • Natural Gas, Oil and NGL
    $398M

Forward guidance

Chesapeake provided guidance for the year ending December 31, 2020, including absolute production, estimated realized hedging effects, estimated basis to NYMEX prices and operating costs per boe of projected production.

Historical earnings impact

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

Avg. return before/after earnings

Based on 20 quarterly earnings reports

Historical avg

+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
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%
Q3 2020
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Q1 2020
Q4 2019
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Q1 2019
Q4 2018
Q3 2018
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Q1 2018
Q4 2017
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Q4 2016
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Q4 2015
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Q4 2014
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Q4 2013
Q3 2013
Q2 2013
Q1 2013
Q4 2012
Q3 2012
Q2 2012
Q1 2012
Q4 2011
Q3 2011
Q2 2011
Q1 2011
Q4 2010
Q3 2010
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Q1 2009
Q1 2010
Q4 2007
Q4 2009
Q3 2009
Q3 2008
Q4 2008
Q2 2009
Q2 2008

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