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Chord Energy (CHRD)
NASDAQ:CHRD
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$2.99Last Year’s EPS
$5.25Same Quarter Last Year
Strong Buy
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -16.01%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong performance in terms of financial results, operational efficiency, and shareholder returns, despite some setbacks due to external factors like wildfires and weak gas prices. The company's ability to exceed expectations and improve guidance suggests a positive outlook.Company Guidance
During the third quarter 2024 earnings call for Chord Energy (CHRD), the company provided a robust outlook, projecting oil volumes to remain steady at 152,000 to 153,000 barrels per day from 2025 through 2027, with annual capital expenditures of $1.4 billion. The company achieved adjusted free cash flow of approximately $312 million for the quarter, with 75% of this returned to shareholders. This included a base dividend of $1.25 per share, a variable dividend of $0.19 per share, and share repurchases totaling $146 million. Operational efficiencies led to capital expenditures coming in below expectations at $329 million, while operating expenses were also lower than anticipated. Chord reported oil volumes near the top end of guidance and adjusted full-year pro forma oil guidance upwards despite impacts from wildfires, reflecting strong execution and well performance. The company also highlighted its strategic focus on longer laterals and optimized well spacing, which are expected to enhance future capital efficiency and reduce decline rates.Strong Financial Performance
Chord Energy generated adjusted free cash flow of $312 million in Q3, supported by robust shareholder returns and free cash flow above expectations.
Operational Efficiency Gains
Capital expenditures were below expectations due to operational efficiencies, lower-than-expected costs, and timing adjustments, with operating expenses also coming in below expectations.
Improved Capital Efficiency
Chord's team has successfully executed longer laterals, with 3-mile wells showing improved capital efficiency and returns, contributing to enhanced operational performance.
Shareholder Returns
Chord will be returning 75% of the quarterly free cash flow to shareholders, with a significant portion allocated to share repurchases, representing 93% of the capital return for the quarter.
Positive Outlook and Guidance
Despite challenges, Chord increased full-year pro forma oil guidance for the second time this year and lowered full-year capital guidance, reflecting improved program efficiencies.
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CHRD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CHRD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $131.96 | $132.86 | +0.68% |
| Aug 07, 2024 | $150.90 | $148.52 | -1.58% |
| May 07, 2024 | $172.84 | $174.33 | +0.86% |
| Feb 21, 2024 | $159.25 | $154.42 | -3.03% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Chord Energy (CHRD) report earnings?
Chord Energy (CHRD) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Chord Energy (CHRD) earnings time?
Chord Energy (CHRD) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CHRD EPS forecast?
CHRD EPS forecast for the fiscal quarter 2024 (Q4) is $2.99.
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