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Mar 31, 2025
Chesapeake Q1 2025 Earnings Report
Expand Energy Corporation reported its first quarter 2025 financial and operating results, including a net loss of $249 million and adjusted net income of $487 million.
Key Takeaways
Expand Energy Corporation reported a net loss of $249 million for the first quarter of 2025, or $1.06 per fully diluted share. Despite the net loss, the company achieved an adjusted net income of $487 million and adjusted EBITDAX of $1,395 million. Net cash provided by operating activities was $1,096 million, and the company produced approximately 6.79 Bcfe/d net. Expand Energy was added to the S&P 500 and received an Investment Grade credit rating from Moody's, achieving a uniform Investment Grade rating from all agencies.
Net cash provided by operating activities was $1,096 million.
Net loss was $249 million, or $1.06 per fully diluted share; adjusted net income was $487 million, or $2.02 per share.
Adjusted EBITDAX was $1,395 million.
Produced approximately 6.79 Bcfe/d net (92% natural gas).
Revenue by Segment
Forward Guidance
Expand Energy expects to run approximately 12 rigs and invest approximately $2.7 billion in 2025, yielding an estimated daily production of approximately 7.1 Bcfe/d. The company aims to build incremental productive capacity for an additional $300 million by exiting 2025 with approximately 15 rigs, positioning for an average of 7.5 Bcfe/d in 2026 should market conditions warrant. Expand Energy is on track to capture its 2025 expected annual synergy target of approximately $400 million, with the full $500 million in annual synergies expected by year end 2026. The company plans to pay a quarterly base dividend of $0.575 per share in June 2025 and allocate $500 million to Net Debt reduction in 2025.
Positive Outlook
- Expected daily production of approximately 7.1 Bcfe/d in 2025.
- Intends to build incremental productive capacity for an additional $300 million by exiting 2025 with approximately 15 rigs.
- Positions the company to efficiently grow production to average approximately 7.5 Bcfe/d in 2026 should market conditions warrant.
- On track to capture approximately $400 million in 2025 expected annual synergy target.
- Full $500 million in annual synergies expected to be achieved by year end 2026.
Challenges Ahead
- Overcoming market volatility requires a resilient financial foundation, a deep market-connected portfolio, and low cost, efficient operations.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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