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Mar 31, 2025
Coterra Q1 2025 Earnings Report
Coterra reported strong Q1 2025 results with higher production volumes and solid free cash flow.
Key Takeaways
Coterra Energy delivered a robust quarter, exceeding production guidance, generating $663 million in free cash flow, and posting $516 million in net income while maintaining capital discipline.
Free cash flow reached $663 million, used to fund dividends, share repurchases, and reduce debt.
Production volumes exceeded guidance across oil, natural gas, and total BOE.
Capital expenditures came in below midpoint of guidance at $472 million.
Net income rose to $516 million, with adjusted EPS at $0.80.
Revenue by Segment
Forward Guidance
Coterra lowered its 2025 capital guidance while maintaining oil production levels and raising natural gas output expectations.
Positive Outlook
- Raised full-year guidance for natural gas and total BOE production.
- Maintained oil production guidance despite reducing Permian activity.
- Expected 2025 Free Cash Flow of $2.1 billion at strip pricing.
- Continued debt reduction and financial flexibility post-acquisitions.
- Maintained commitment to return 50%+ of Free Cash Flow to shareholders.
Challenges Ahead
- Reduced Permian rig count to 7 in 2H 2025 from previously planned 10.
- Lowered 2025 capital expenditures due to less oil-directed activity.
- Oil price headwinds continue to pose macroeconomic pressure.
- Net debt increased to $4.09 billion after acquisitions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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