AETUF - ARC Resources rallies on strong Q4 shareholder return plan

ARC Resources (OTCPK:AETUF +2.5%) rises after reporting better than expected Q4 earnings and saying it will allocate surplus funds generated in 2022 to shareholder returns and debt reduction. Q4 revenues quadrupled Y/Y to C$1.88B from C$405.9M, Q4 net income skyrocketed to C$678M, or C$0.96/share, from C$121M, or C$0.34/share, in the year-earlier quarter; based on limited analyst coverage, net income per share was expected to be C$0.49. ARC reported average production was 345.8K boe/day, generating C$669M in cash flow from operating activities and funds from operations of C$833.6M. ARC said its average realized natural gas price of $6.45/Mcf was $1.51 greater than the average AECO 7A Monthly Index price. The company said it nearly doubled its reserves volumes and tripled its reserves value during the year through high-value liquids additions from the business combination and strong organic additions across the portfolio. ARC said it plans to deliver 50%-80% of free funds

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ARC Resources rallies on strong Q4, shareholder return plan