NYSE$SD
SandRidge Energy Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Announced financial and operational results for the second quarter of 2024.
SandRidge Energy, Inc. reported a net income of $8.8 million, or $0.24 per basic share, and adjusted net income of $6.4 million, or $0.17 per basic share for the second quarter of 2024. The company had $211.3 million in cash and cash equivalents and generated $23.5 million of free cash flow for the six-month period ended June 30, 2024.
- Declared a $0.11 per share cash dividend payable on August 30, 2024.
- Entered into a purchase and sale agreement to acquire certain producing assets and leasehold interest in the Cherokee play for $144 million.
- Second quarter net income was $8.8 million, or $0.24 per basic share; Adjusted net income was $6.4 million, or $0.17 per basic share.
- As of June 30, 2024, had $211.3 million of cash and cash equivalents.
Headline financials
Revenue & EPS history
SandRidge · Revenue · Quarterly
$26M
Revenue by segment
SandRidge · $34.5M total across 3 segments · Q2 2025
- Oil$17M—49.1%
- NGL$8.83M—25.6%
- Natural gas$8.75M—25.3%
Forward guidance
SandRidge remains focused on growing the value of its asset base in a safe, responsible and efficient manner, while exercising prudent capital allocations to projects that provide high rates of returns in the current commodity price environment.
Tailwinds
- Artificial lift conversions to more efficient and cost-effective systems.
- High-graded re-fracturing and recompletion.
- Opportunistic leasing that could bolster future development and complement the recently acquired Cherokee assets.
- Incumbent leasehold remains approximately 99% held by production, which cost-effectively maintains its development option over a reasonable tenor.
- Vigilant in evaluating further merger and acquisition opportunities, with consideration of its strong balance sheet and commitment to its capital return program.
Headwinds
- Assets have higher relative gas content for which prices are not yet at optimal levels to resume development or material reactivations.
- Forward-looking commodity prices, project results, costs and other factors could influence returns on investments over an expanded portfolio.
- Merger and acquisition opportunities might not materialize.
- Acquisition might not close or the closing may be delayed because conditions to the closing may not be satisfied
- The performance of the acquired interests is subject to risks and uncertainties
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 Q2 2024
+0.3%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+1.0%
Avg return
30 days after
45%
17 / 38 earnings
Positive
+16.1%
Q3 2020
Best reaction
-20.3%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | +3.4% | +3.6% | +2.2% | |
| Q4 2025 | -4.5% | -7.0% | -14.5% | |
| Q3 2025 | +7.9% | +8.6% | +24.5% | |
| Q1 2025 | -3.1% | -5.2% | +14.5% | |
| Q4 2024 | +1.5% | +1.5% | -18.2% | |
| Q3 2024 | +8.2% | +4.4% | -2.9% | |
| Q2 2024 | +4.3% | +3.8% | -1.2% | |
| Q1 2024 | -3.9% | -2.9% | -6.4% | |
| Q4 2023 | +5.4% | +3.4% | +16.5% | |
| Q3 2023 | -9.2% | -11.4% | -16.9% | |
| Q2 2023 | -3.7% | -4.0% | -4.1% | |
| Q1 2023 | +8.6% | +7.3% | +11.6% | |
| Q4 2022 | +0.4% | +3.7% | +14.2% | |
| Q3 2022 | -4.0% | +12.4% | +5.0% | |
| Q2 2022 | -6.3% | -3.1% | +13.5% | |
| Q1 2022 | +1.1% | -12.3% | +34.2% | |
| Q4 2021 | +4.3% | -1.8% | +14.0% | |
| Q3 2021 | -5.2% | +4.7% | -24.4% | |
| Q2 2021 | +12.8% | +20.5% | +39.9% | |
| Q1 2021 | +7.7% | +11.4% | +38.9% | |
| Q4 2020 | -20.3% | -16.1% | -23.0% | |
| Q3 2020 | +16.1% | +25.0% | +53.1% | |
| Q2 2020 | -3.1% | +8.0% | +11.1% | |
| Q1 2020 | -3.4% | -1.3% | -4.0% | |
| Q4 2019 | +1.4% | +4.3% | -54.1% | |
| Q3 2019 | -16.1% | -23.9% | -16.3% | |
| Q2 2019 | -5.2% | -9.2% | -16.2% | |
| Q1 2019 | -1.7% | +1.2% | -22.4% | |
| Q4 2018 | -0.6% | -9.9% | +0.0% | |
| Q3 2018 | +15.5% | +12.3% | +4.6% | |
| Q2 2018 | -1.3% | -0.5% | -13.5% | |
| Q1 2018 | -3.5% | -3.5% | +2.3% | |
| Q4 2017 | -1.1% | +1.0% | -7.3% | |
| Q3 2017 | -0.2% | +3.8% | +0.6% | |
| Q2 2017 | -5.4% | -6.0% | -8.7% | |
| Q1 2017 | +9.3% | +9.2% | +5.2% | |
| Q4 2016 | -2.8% | -5.9% | -14.8% | |
| Q3 2016 | +6.3% | +8.1% | +0.6% | |
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