YPF - YPF Sociedad Anónima GAAP EPS of $0.87 beats by $0.03 revenue of $4.24B beats by $10M

May, 12 2023 05:28 AM YPF Sociedad Anonima

2023-05-12 05:28:02 ET

YPF Sociedad Anónima press release ( NYSE: YPF ): Q1 GAAP EPS of $0.87 beats by $0.03 .
Revenue of $4.24B (+12.8% Y/Y) beats by $10M .
Adjusted EBITDA reached US$1,044 million, expanding 5% y/y and 12% sequentially driven mainly by the expansion of oil production and higher processing levels.
Total hydrocarbon production continued with a positive trend averaging 511 Kboe/d, increasing 2% q/q and 1% y/y, driven by a solid inter-annual expansion of 7% in crude oil production that resulted in the highest quarterly mark since 2016.
Shale oil production continued delivering an impressive growth rate of 31% y/y, while shale gas production increased 9% y/y, both on track to meet the targets for the year.
Domestic fuels’ demand expanded almost 4% versus 1Q22 but softened 3% versus the previous quarter on the back of lower diesel demand.
Total OPEX increased 28% y/y.
CAPEX activity totaled $1,298 million, increasing 78% y/y while contracting 9% q/q.
Free cash flow was almost flat during the first quarter at negative $17M.

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