Crescent Energy reports Q1 adjusted EBITDA $313.3M vs. $232.0M last year

Reports Q1 revenue $657.5M, consensus $582.2M. Crescent CEO David Rockecharlie said, “We entered 2024 with strong momentum and again exceeded market expectations in the first quarter, achieving record quarterly production, generating robust operating cash flows and demonstrating the merits of our proven and differentiated business model to create long-term value for shareholders. Our consistent financial and operating performance is a testament to the ongoing commitment of our team to safely enhance well productivity, helping to reduce costs and successfully integrate recently acquired properties. Crescent is a proven acquirer and our teams quickly apply our best-in-class operating practices to enhance cash flows, create sustainable capital efficiencies and enhance returns. This balanced investment approach allows us to return significant cash to shareholders through our fixed dividend and opportunistic share buyback program. We are leveraging our strengths for sustainable growth and value creation for our investors.”