Gulfport Energy (GPOR) FY2022 results: revenue $1.3 billion, up 64.6% on the year

Gulfport Energy Corp. (GPOR) reported revenue of $1.3 billion for fiscal 2022, the year ended 31 December 2022, up 64.6% on the year before. Net income was $495 million, up 270.3%, and diluted earnings per share $20.32. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2023.

Revenue

$1.3 billion

+64.6% on the year

FY2015FY2022

Operating margin

40.8%

-9.1% a year earlier

FY2015FY2022

Net income

$495 million

+270.3% on the year

FY2015FY2022

Diluted EPS

$20.32

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	1,331	809	867	+64.6%
Cost of revenue	357	373	456	-4.2%
Gross profit	974	436	410	+123.5%
Gross margin	73.2%	53.9%	47.3%
Operating income	543	-73.6	-1,363
Operating margin	40.8%	-9.1%	-157.2%
Interest expense	59.8	45.0	120	+32.8%
Pre-tax income	495	130	-1,618	+280.1%
Income tax	0.0	-8.0	7.3
Effective tax rate	0.0%	-6.2%	n/a
Net income	495	134	-1,625	+270.3%
Net margin	37.2%	16.5%	-187.5%
Diluted EPS	$20.32	n/a	-$10.14

$ 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

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	739	465	95.3	+58.9%
Cash from investing	-458	-298	-315
Cash from financing	-277	-254	303
Depreciation and amortisation	268	224	240	+19.7%
Share-based compensation	5.7	3.2	16.3	+78.3%
Buybacks	250	0.0	0.0
Diluted shares, weighted	20m	n/a	160m
Shares outstanding at period end	19m	21m	161m	-7.3%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	829	549	-300	+50.8%
Redeemable equity	52.3	57.9	n/a	-9.7%
Debt	694	713	2,259	-2.6%
Operating lease liabilities	14.3	0.1	0.0	+10,113.6%
Other liabilities	945	848	581	+11.5%
Total liabilities and equity	2,534	2,168	2,540	+16.9%
Fixed assets	2,058	1,856	2,086	+10.9%
Cash and equivalents	7.3	3.3	89.9	+122.7%
Receivables	278	233	120	+19.6%
Other assets	191	76.3	244	+150.5%
Total assets	2,534	2,168	2,540	+16.9%

10-K for the year ended 31 December 2022, filed 1 March 2023: the filing.