CLR - Continental Resources Non-GAAP EPS of $2.65 beats by $0.22 revenue of $1.82B misses by $340M
Continental Resources press release (NYSE:CLR): Q1 Non-GAAP EPS of $2.65 beats by $0.22. Revenue of $1.82B (+49.2% Y/Y) misses by $340M. The company has updated its 2022 annual oil production guidance to 200 to 210 MBopd from 195 to 205 MBopd. The company is also projecting a December 2022 oil production exit rate of approximately 220 to 230 MBopd. Additionally, the company has updated its 2022 annual natural gas production guidance to 1,100 MMcfpd to 1,200 MMcfpd from 1,040 to 1,140 MMcfpd. To generate approximately $6.5B to $7B of cash flow from operations and $4.3B to $4.7B of free cash flow (non-GAAP) for FY2022. The company's full-year 2022 free cash flow projection equates to a 21% to 23% free cash flow yield (non-GAAP).
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Continental Resources Non-GAAP EPS of $2.65 beats by $0.22, revenue of $1.82B misses by $340M