NYSE$EXE
Expand Energy Corp · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Reported fourth quarter and full-year 2021 financial and operating results and updated 2022 guidance.
Chesapeake Energy Corporation reported strong fourth quarter 2021 results, with a net income of $1.4 billion and adjusted EBITDAX of $687 million. The company generated $372 million in adjusted free cash flow and will pay a quarterly dividend of $1.7675 per common share. They also increased their 2022 adjusted EBITDAX guidance to $3.8 – $4.0 billion.
- Net cash provided by operating activities of $563 million; unrestricted cash balance of $905 million
- Net income of approximately $1.4 billion, or $11.13 per diluted share; adjusted net income of $308 million, or $2.39 per diluted share
- Adjusted EBITDAX of $687 million; adjusted free cash flow of $372 million
- Quarterly dividend of $1.7675 per common share, consisting of the first variable dividend of $1.33 per common share and a quarterly base dividend of $0.4375 per common share
Headline financials
Revenue & EPS history
Chesapeake · Revenue · Quarterly
$3.09B
Revenue by segment
Chesapeake · $398M total across 1 segment · Q4 2019
- Natural Gas, Oil and NGL$398M—100.0%
Forward guidance
Chesapeake Energy anticipates strong financial performance in 2022, with adjusted EBITDAX guidance increased to $3.8 - $4.0 billion and expected adjusted free cash flow of $1.9 - $2.1 billion. The company plans to return significant cash to shareholders through dividends and a share repurchase program.
Tailwinds
- Increased 2022 adjusted EBITDAX guidance to $3.8 – $4.0 billion with no change in capital spending
- Expected to generate approximately $1.9 – $2.1 billion in adjusted free cash flow in 2022 and greater than $9 billion in adjusted free cash flow over the next five years
- Anticipate paying between $900 million – $1.1 billion in total dividends in 2022 and greater than $5 billion over the next five years
- Strong balance sheet with net debt-to-2022E EBITDAX ratio of approximately 0.7x, pro forma for Chief and Powder River Basin cash consideration
- On target to achieve its forecasted $50 million in initial synergies by the end of 2022.
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 Q4 2021
+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
| Quarter | Report date | Reaction (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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