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Ring Energy Inc (REI)
:REI
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Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.08Last Year’s EPS
0.11Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2018
|% Change Since: -8.07%
|Next Earnings Date:Aug 08, 2018
Earnings Call Sentiment|Neutral
Ring Energy demonstrated strong operational performance and debt reduction, benefiting from strategic acquisitions and cost management. However, these positives were offset by decreased revenue and adjusted EBITDA due to lower realized pricing and increased operating expenses.Company Guidance
During Ring Energy's Q3 2024 earnings call, CEO Paul McKinney provided guidance reflecting strong operational performance and strategic financial maneuvers. The company adjusted full-year production guidance to 13,250-13,450 barrels of oil per day and 19,500-19,800 barrels of oil equivalent per day. The quarter saw a total sales volume of 20,108 BOE per day, a record for the company, with oil production at 13,204 barrels per day. Operating costs remained controlled, with lease operating expenses at $10.98 per BOE. The company achieved adjusted EBITDA of $54 million, despite a decrease in realized commodity prices. CapEx for the quarter was $42.7 million, aligning with guidance, and adjusted free cash flow reached $1.9 million. Notably, Ring reduced its debt by $15 million, ending the quarter with $392 million of debt and a leverage ratio of 1.59x. The company plans to drill 4-6 horizontal and 4-6 vertical wells in Q4, maintaining a focus on disciplined capital allocation and debt reduction.Record Sales Volume and Growth in Adjusted Free Cash Flow
Ring Energy posted record sales volume for the third quarter of 20,108 barrels of oil equivalent per day, with oil sales at 13,204 barrels of oil per day. Adjusted free cash flow increased by 34% year-to-date.
Debt Reduction and Improved Liquidity
The company reduced its debt by $15 million during the third quarter, $33 million year-to-date, and $63 million since the Founders acquisition. Liquidity was reported at $208 million with a leverage ratio of 1.59x.
Cost Management and Efficiency
Lease operating expenses were $10.98 per BOE, at the midpoint of guidance. There was a 2% decrease in per BOE all-cash operating costs year-to-date.
Strategic Asset Sale
Ring Energy sold non-core assets for $5.5 million, which helped pay down $15 million of debt in the third quarter. This sale represented a 5.6x estimated next 12 months cash flow.
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REI 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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REI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $1.61 | $1.74 | +8.07% |
| Aug 06, 2024 | $1.71 | $1.67 | -2.34% |
| May 06, 2024 | $1.97 | $1.79 | -9.14% |
| Mar 07, 2024 | $1.45 | $1.56 | +7.59% |
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 Ring Energy Inc (REI) report earnings?
Ring Energy Inc (REI) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is Ring Energy Inc (REI) earnings time?
Ring Energy Inc (REI) earnings time is at Mar 12, 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 REI EPS forecast?
REI EPS forecast for the fiscal quarter 2024 (Q4) is 0.08.
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