Chord Energy (CHRD) Q4 FY2021 earnings: revenue $522 million, up 102.1% on the year

Chord Energy Corp. (CHRD) reported revenue of $522 million for Q4 FY2021, the quarter ended 31 December 2021, up 102.1% on the same quarter a year earlier. Net income was $218 million, down 71.7% on the year, and diluted earnings per share $10.68. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.

Revenue

$522 million

+102.1% on the year · +41.4% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

44.9%

-14.6% a year earlier

Q1 FY2020Q4 FY2021

Net income

$218 million

-71.7% on the year · +202.8% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$10.68

+208.7% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	522	369	258	+41.4%	+102.1%
Operating income	234	151	-37.8	+55.2%
Operating margin	44.9%	40.9%	-14.6%
Interest expense	-18.6	n/a	n/a
Pre-tax income	58.6	n/a	n/a
Income tax	-1.0	n/a	n/a
Effective tax rate	-1.7%	n/a	n/a
Net income	218	72.0	769	+202.8%	-71.7%
Net margin	41.8%	n/a	n/a
Diluted EPS	$10.68	$3.46	n/a	+208.7%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	269	n/a	n/a
Cash from investing	-832	n/a	n/a
Cash from financing	-111	n/a	n/a
Depreciation and amortisation	45.7	33.6	34.3	+36.0%	+33.2%
Share-based compensation	4.3	n/a	n/a
Dividends paid	9.8	n/a	n/a
Diluted shares, weighted	21m	21m	n/a	-0.7%
Shares outstanding at period end	19m	20m	20m	-3.2%	-4.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	1,033	904	916	+14.2%	+12.8%
Non-controlling interest	189	n/a	n/a
Debt	393	1,042	260	-62.3%	+51.0%
Operating lease liabilities	6.7	n/a	n/a
Finance lease liabilities	0.2	n/a	n/a
Other liabilities	1,406	n/a	n/a
Total liabilities and equity	3,027	n/a	n/a
Fixed assets	1,320	n/a	n/a
Cash and equivalents	172	449	15.9	-61.6%	+985.5%
Receivables	377	n/a	n/a
Inventory	29.0	n/a	n/a
Other assets	1,128	n/a	n/a
Total assets	3,027	n/a	n/a

Questions

What was Chord Energy's revenue in Q4 FY2021?

Chord Energy (CHRD) reported revenue of $522 million for Q4 FY2021, the quarter ended 31 December 2021, up 102.1% on the same quarter a year earlier.

How much did Chord Energy earn in Q4 FY2021?

Net income for Q4 FY2021 was $218 million, down 71.7% on the year, and diluted earnings per share $10.68.

When did Chord Energy report Q4 FY2021 results?

Chord Energy filed its 10-K for the year that ended with the quarter on 25 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 * †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	522	653	789	1,189	1,016	897	912	1,123	965	1,085	1,261	1,450	1,455	1,215	1,181	1,312	1,169	1,666	2,173	1,706
Cost of revenue	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	330	n/a	111	232	341	291	510	672	296
Gross profit	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	1,121	n/a	1,104	949	971	878	1,156	1,501	1,410
Gross margin	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	77%	n/a	91%	80%	74%	75%	69%	69%	83%
Operating income	234	292	331	537	424	326	251	353	343	273	289	273	265	338	-403	171	91.9	333	603	505
Operating margin	45%	45%	42%	45%	42%	36%	28%	31%	36%	25%	23%	19%	18%	28%	-34%	13%	8%	20%	28%	30%
Interest expense	-18.6	7.2	6.9	8.6	6.5	7.1	7.2	7.9	6.3	7.6	12.2	19.1	17.6	15.8	18.8	18.7	26.8	26.6	26.7	26.7
Pre-tax income	58.6	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Tax rate	-2%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	218	466	131	882	378	297	216	209	302	199	213	225	211	220	-390	130	84.4	109	525	182
Net margin	42%	71%	17%	74%	37%	33%	24%	19%	31%	18%	17%	16%	14%	18%	-33%	10%	7%	7%	24%	11%
Diluted EPS	$10.68	$24.14	$6.23	$20.45	$8.64	$6.87	$4.96	$4.77	$6.93	$4.65	$4.25	$3.59	$3.43	$3.66	-$6.77	$2.26	$1.48	$1.90	$9.28	$3.29
Operating cash flow	269	266	396	784	478	469	408	399	543	407	461	663	566	657	420	559	405	507	1,116	781
Buybacks	n/a	0.0	0.0	125	27.1	15.0	30.8	111	82.2	32.0	61.7	146	204	215	58.9	83.8	7.0	67.7	150	201
Dividends paid	9.8	70.6	69.3	360	155	202	135	56.9	106	152	129	156	92.2	86.5	82.4	74.6	74.3	74.2	73.5	71.4
Shares outstanding	19m	20m	20m	42m	41m	42m	41m	41m	41m	42m	62m	61m	60m	58m	58m	57m	57m	56m	55m	54m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 25 February 2022: the filing.