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Mar 31, 2024
SandRidge Q1 2024 Earnings Report
Announced financial and operational results for the three-month period ended March 31, 2024.
Key Takeaways
SandRidge Energy reported a net income of $11.1 million, or $0.30 per basic share, and generated $14.5 million of free cash flow for the first quarter of 2024. The company's adjusted EBITDA was $14.7 million, and it declared a $0.11 per share cash dividend.
Declared a $0.11 per share cash dividend payable on May 31, 2024.
First quarter net income was $11.1 million, or $0.30 per basic share; adjusted net income was $8.4 million, or $0.23 per basic share.
Adjusted EBITDA of $14.7 million for the three-month period ended March 31, 2024.
Generated $14.5 million of free cash flow for the three-month period ended March 31, 2024, representing a 99% conversion rate relative to adjusted EBITDA.
Revenue by Segment
Forward Guidance
SandRidge will continue to focus on growing the cash value and generation capability of its asset base in a safe, responsible and efficient manner, while exercising prudent capital allocations to projects it believes provide high rates of returns in the current commodity price outlook.
Positive Outlook
- Focus on artificial lift conversions to more efficient and cost-effective systems.
- Capital-efficient workovers.
- Preserving future development and expanded well reactivations.
- 99% held by production acreage position that extends the option value to initiate projects in favorable commodity price environments.
- Optionality to execute on value accretive merger and acquisition opportunities.
Challenges Ahead
- Monitoring forward-looking commodity prices.
- Monitoring results.
- Monitoring costs.
- Monitoring other factors that could influence returns on investments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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