Press release
Expand Energy Corporation Reports Fourth Quarter and Full-Year 2024 Results, Issues 2025 Outlook
OKLAHOMA CITY, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Expand Energy Corporation (NASDAQ:EXE) (“Expand Energy” or the “Company”) today reported fourth quarter and
About this update from Expand Energy Corporation
[{"type":"text","content":"OKLAHOMA CITY, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Expand Energy Corporation (NASDAQ:EXE) (“Expand Energy” or the “Company”) today reported fourth quarter and full-year 2024 financial and operating results and issued its 2025 outlook. Fourth Quarter Highlights Net cash provided by operating activities of $382 millionNet loss of $399 million, or $1.72 per fully diluted share; adjusted net income(1) of $131 million, or $0.55 per shareAdjusted EBITDAX(1) of $964 millionProduced approximately 6.41 Bcfe/d net (91% natural gas)Debut $750 million Investment Grade issuance, setting record spread for energy rising star (+132 bps to 10-year Treasury) 2025 Outlook Increasing expected synergy capture to ~$400 million in 2025, with the total target of $500 million in annual synergies expected to be achieved by year end 2026Quarterly base dividend of $0.575 per common share to be paid in March 2025, 16th straight quarter paying a dividendExpected to produce ~7.1 Bcfe/d for ~$2.7 billion of capital and deploy $300 million of incremental capital to create an additional ~300 MMcfe/d of productive capacity in 2026 (1) Definitions of non-GAAP financial measures and reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure are included at the end of this news release. “The global need for reliable, affordable, lower carbon energy has never been greater. Our strong fourth quarter results and 2025 outlook clearly demonstrate, as the nation’s largest gas producer, we are ready to answer the call and expand opportunity for consumers and investors alike,” said Nick Dell’Osso, Expand Energy’s President and Chief Executive Officer. “The powerful combination of our attractive, market-connected portfolio, peer-leading returns program, and resilient financial foundation is distinctly unique among domestic natural gas producers. Our focus on integration and operational execution continues to deliver, allowing us to capture 80% of our $500 million synergy target in 2025 as we drive to lower our breakeven costs and more efficiently reach markets in need. Importantly, our capital plan positions us to continue our strategy to build productive capacity, positioning the company to efficiently and rapidly respond with production in 2026 should market conditions warrant.” Operations Update In the fourth quarter, Expand En...