Gulfport Energy (GPOR) Q4 FY2023 earnings: revenue $489 million, down 50.2% on the year

Gulfport Energy Corp. (GPOR) reported revenue of $489 million for Q4 FY2023, the quarter ended 31 December 2023, down 50.2% on the same quarter a year earlier. Net income was $246 million, down 67.2% on the year, and diluted earnings per share $12.01. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.

Revenue$489 milliondown 50.2%

Net income$246 milliondown 67.2%

Diluted EPS$12.01

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	489	267	n/a	n/a
Cost of revenue	88.7	86.6	n/a	n/a
Gross profit	400	180	n/a	n/a
Gross margin	81.9%	67.5%	n/a
Operating income	282	67.2	n/a	n/a
Operating margin	57.8%	25.2%	n/a
Interest expense	14.7	14.9	n/a	n/a
Pre-tax income	275	53.7	n/a	n/a
Income tax	29.6	-555	n/a	n/a
Effective tax rate	10.7%	-1033.0%	n/a
Net income	246	608	n/a	n/a
Net margin	50.2%	228.2%	n/a
Diluted EPS	$12.01	$27.37	n/a	n/a

$ 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.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	156	156	n/a	n/a
Cash from investing	-117	-138	n/a	n/a
Cash from financing	-44.7	-14.8	n/a	n/a
Depreciation and amortisation	81.0	79.5	n/a	n/a
Share-based compensation	2.1	2.4	n/a	n/a
Buybacks	n/a	8.2	n/a	n/a
Diluted shares, weighted	19m	19m	n/a	n/a
Shares outstanding at period end	18m	19m	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	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	2,162	1,980	n/a	n/a
Redeemable equity	44.2	45.3	n/a	n/a
Debt	667	644	n/a	n/a
Operating lease liabilities	1.3	4.5	n/a	n/a
Other liabilities	393	463	n/a	n/a
Total liabilities and equity	3,268	3,137	n/a	n/a
Fixed assets	2,252	2,223	n/a	n/a
Cash and equivalents	1.9	8.3	n/a	n/a
Receivables	122	107	n/a	n/a
Other assets	891	799	n/a	n/a
Total assets	3,268	3,137	n/a	n/a

Questions

What was Gulfport Energy's revenue in Q4 FY2023?

Gulfport Energy (GPOR) reported revenue of $489 million for Q4 FY2023, the quarter ended 31 December 2023, down 50.2% on the same quarter a year earlier.

How much did Gulfport Energy earn in Q4 FY2023?

Net income for Q4 FY2023 was $246 million, down 67.2% on the year, and diluted earnings per share $12.01.

When did Gulfport Energy report Q4 FY2023 results?

Gulfport Energy filed its 10-K for the year that ended with the quarter on 28 February 2024; the fourth quarter is the year less the first three.

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	267	489	283	181	254	240	197	448	380	398	438	323
Cost of revenue	86.6	88.7	86.6	86.5	89.9	88.2	82.9	86.5	96.4	93.2	90.6	84.6
Gross profit	180	400	197	94.6	164	152	114	361	283	305	347	239
Gross margin	68%	82%	69%	52%	65%	63%	58%	81%	75%	77%	79%	74%
Operating income	67.2	282	81.8	-18.1	14.6	-315	12.0	251	159	179	228	127
Operating margin	25%	58%	29%	-10%	6%	-131%	6%	56%	42%	45%	52%	39%
Interest expense	14.9	14.7	15.0	15.2	15.9	14.0	13.4	13.7	13.6	13.6	15.4	15.8
Pre-tax income	53.7	275	66.9	-33.8	-17.8	-333	-0.6	236	143	165	211	111
Tax rate	-1033%	11%	22%	n/a	n/a	n/a	n/a	22%	22%	20%	21%	22%
Net income	608	246	52.0	-26.2	-14.0	-273	-0.5	184	111	132	166	87.1
Net margin	228%	50%	18%	-14%	-6%	-114%	-0%	41%	29%	33%	38%	27%
Diluted EPS	$27.37	$12.01	$2.34	-$1.51	-$0.83	-$15.40	-$0.07	$9.12	$4.45	$6.83	$8.87	$4.85
Operating cash flow	156	156	188	123	190	149	177	231	209	185	293	150
Buybacks	8.2	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	19m	18m	18m	18m	18m	18m	18m	18m	20m	19m	18m	18m
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-K for the period ended 31 December 2023, filed 28 February 2024, accession 0001628280-24-007527: the filing on EDGAR. All of Gulfport Energy Corp.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install