NOG - Northern Oil & Gas Non-GAAP EPS of $1.76 beats by $0.17 revenue of $582.2M beats by $186.83M
2023-05-04 16:46:23 ET
- Northern Oil & Gas press release ( NYSE: NOG ): Q1 Non-GAAP EPS of $1.76 beats by $0.17 .
- Revenue of $582.2M may not be comparable to consensus.
- Shares +2.1% .
- Record quarterly production of 87,385 Boe per day (62% oil), an increase of 23% from the first quarter of 2022.
- Net income of $340.2 million and record Adjusted EBITDA of $325.5 million. See “Non-GAAP Financial Measures” below.
- Cash flow from operations of $269.3 million. Excluding changes in net working capital, cash flow from operations was $296.2 million, an increase of 26% sequentially from the fourth quarter of 2022.
- Generated $83.9 million of Free Cash Flow, despite increased development activity and volatility in commodity prices during the quarter. See “Non-GAAP Financial Measures” below.
- Closed on the acquisition of a 39.958% non-operated working interest in the MPDC Mascot project in January 2023, for $319.9 million.
For further details see:
Northern Oil & Gas Non-GAAP EPS of $1.76 beats by $0.17, revenue of $582.2M beats by $186.83M