Chord Energy (CHRD) Q3 FY2023 earnings: revenue $1.1 billion, down 5.5% on the year

Chord Energy Corp. (CHRD) reported revenue of $1.1 billion for Q3 FY2023, the quarter ended 30 September 2023, down 5.5% on the same quarter a year earlier. Net income was $209 million, down 76.3% on the year, and diluted earnings per share $4.77. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2023.

Revenue$1.1 billiondown 5.5%

Net income$209 milliondown 76.3%

Diluted EPS$4.77

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	1,123	n/a	n/a	n/a
Operating income	353	n/a	n/a	n/a
Operating margin	31.4%	n/a	n/a
Interest expense	7.9	n/a	n/a	n/a
Income tax	65.7	n/a	n/a	n/a
Net income	209	n/a	n/a	n/a
Net margin	18.6%	n/a	n/a
Diluted EPS	$4.77	n/a	n/a	n/a

$ million except per share.

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.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	399	n/a	n/a	n/a
Cash from investing	-254	n/a	n/a	n/a
Cash from financing	-95.3	n/a	n/a	n/a
Depreciation and amortisation	160	n/a	n/a	n/a
Share-based compensation	10.1	n/a	n/a	n/a
Buybacks	111	n/a	n/a	n/a
Dividends paid	56.9	n/a	n/a	n/a
Dividend per share	$1.36	n/a	n/a	n/a
Diluted shares, weighted	44m	n/a	n/a	n/a
Shares outstanding at period end	41m	n/a	n/a	n/a

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

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	4,941	n/a	n/a	n/a
Debt	395	n/a	n/a	n/a
Operating lease liabilities	22.1	n/a	n/a	n/a
Other liabilities	1,554	n/a	n/a	n/a
Total liabilities and equity	6,913	n/a	n/a	n/a
Fixed assets	5,256	n/a	n/a	n/a
Cash and equivalents	265	n/a	n/a	n/a
Receivables	1,032	n/a	n/a	n/a
Inventory	64.9	n/a	n/a	n/a
Other assets	295	n/a	n/a	n/a
Total assets	6,913	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,123	965	1,085	1,261	1,450	1,455	1,215	1,181	1,312	1,169	1,666	2,173
Cost of revenue	n/a	n/a	n/a	n/a	330	n/a	111	232	341	291	510	672
Gross profit	n/a	n/a	n/a	n/a	1,121	n/a	1,104	949	971	878	1,156	1,501
Gross margin	n/a	n/a	n/a	n/a	77%	n/a	91%	80%	74%	75%	69%	69%
Operating income	353	343	273	289	273	265	338	-403	171	91.9	333	603
Operating margin	31%	36%	25%	23%	19%	18%	28%	-34%	13%	8%	20%	28%
Interest expense	7.9	6.3	7.6	12.2	19.1	17.6	15.8	18.8	18.7	26.8	26.6	26.7
Net income	209	302	199	213	225	211	220	-390	130	84.4	109	525
Net margin	19%	31%	18%	17%	16%	14%	18%	-33%	10%	7%	7%	24%
Diluted EPS	$4.77	$6.93	$4.65	$4.25	$3.59	$3.43	$3.66	-$6.77	$2.26	$1.48	$1.90	$9.28
Operating cash flow	399	543	407	461	663	566	657	420	559	405	507	1,116
Buybacks	111	82.2	32.0	61.7	146	204	215	58.9	83.8	7.0	67.7	150
Dividends paid	56.9	106	152	129	156	92.2	86.5	82.4	74.6	74.3	74.2	73.5
Shares outstanding	41m	41m	42m	62m	61m	60m	58m	58m	57m	57m	56m	55m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	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 diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. 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.

Source

10-Q for the period ended 30 September 2023, filed 2 November 2023, accession 0001486159-23-000039: the filing on EDGAR. All of Chord Energy Corp.'s filings: EDGAR company page.

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