NYSE$EXE

Expand Energy Corp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported fourth quarter and full-year 2022 financial and operating results and issued 2023 guidance.

Chesapeake Energy Corporation reported strong fourth quarter results with a net income of $3,513 million and adjusted EBITDAX of $1,032 million. The company produced approximately 4.05 bcfe/d net (90% natural gas) and generated $1,050 million of operating cash flow.

  • Net cash provided by operating activities of $1,050 million.
  • Net income totaled $3,513 million, or $24.00 per fully diluted share; adjusted net income totaled $618 million, or $4.22 per share.
  • Adjusted EBITDAX of $1,032 million; free cash flow of $526 million; adjusted free cash flow of $273 million, inclusive of the effect of asset sales.
  • Produced approximately 4.05 bcfe/d net (90% natural gas).

Headline financials

Total Revenue

$4.13B

Previous: $3.09B+33.7%
EPS (adj)

$4.22

Previous: $2.39+76.6%
Produced Bcfe/d net

4.05

Previous: 539.0K-100.0%
Adjusted EBITDAX

$1.03B

No prior period
Capital Expenditures

$524M

Previous: $265M+97.7%
Free Cash Flow

$526M

Previous: $372M+41.4%
Net Income

$3.51B

Previous: $1.4B+150.9%
Operating Income

$2.23B

Previous: $1.42B+56.8%
Gross Profit

$4.13B

Previous: $3.09B+33.7%
Cash & Equivalents

$130M

Previous: $905M-85.6%
Total Assets

$15.5B

Previous: $11B+40.5%
Stock-Based Comp

$6M

Previous: $4M+50.0%

Revenue & EPS history

Chesapeake · Revenue · Quarterly

$4.13B

Q4 2022+33.7%vs Q4 2021
Beat estimate in 10 of 14 quarters(71%)
ActualEstimate

Revenue by segment

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

  • Natural Gas, Oil and NGL
    $398M—

Forward guidance

Chesapeake anticipates generating significant free cash flow from operations, combined with proceeds from recent Eagle Ford divestitures, which is expected to deliver leading shareholder return framework in the year ahead.

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 2022

Historical avgQ4 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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Q2 2009———

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