GULFPORT ENERGY Reports Q2 FY2023 Earnings Results on August 1 2023
August 4, 2023
☀️Earnings Overview
On August 1 2023, GULFPORT ENERGY ($NYSE:GPOR) reported a significant decrease in total revenue and net income for the second quarter of FY2023, which ended on June 30 2023. Total revenue was USD 207.9 million, a 67.4% decrease from the same quarter last year, while net income was USD 93.7 million, a 63.5% decrease year-over-year.
Price History
On Tuesday, August 1, 2023, GULFPORT ENERGY reported their financial results for the second quarter of fiscal year 2023. The stock opened at $101.9 and closed at $103.7, up 1.3% from the previous day’s closing price of 102.4. Analysts had speculated that Gulfport Energy’s earnings would be strong due to the company’s increased focus on cost control and efficiency initiatives.
Gulfport Energy has also expanded its portfolio of natural gas assets, allowing them to capitalize on increasing demand both domestically and abroad. With the increasing demand for natural gas, Gulfport Energy remains well-poised for continued success in the upcoming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gulfport Energy. More…
| Total Revenues | Net Income | Net Margin |
| 1.77k | 1.17k | 51.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gulfport Energy. More…
| Operations | Investing | Financing |
| 767.28 | -558.62 | -209.97 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gulfport Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.56k | 1.13k | 76.18 |
Key Ratios Snapshot
Some of the financial key ratios for Gulfport Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 32.4% | 126.8% | 79.2% |
| FCF Margin | ROE | ROA |
| 11.6% | 62.7% | 34.3% |
Analysis
GoodWhale has conducted an analysis of the fundamentals of GULFPORT ENERGY. Based on the Star Chart, GULFPORT ENERGY has been classified as a ‘rhino’, which suggests the company has achieved moderate revenue or earnings growth. This kind of company may be of interest to investors who are looking for moderate growth opportunities. GULFPORT ENERGY also revealed strong growth and profitability, medium assets and weak dividends. Our analysis also shows that GULFPORT ENERGY has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that the company is likely to be able to pay off its debt and fund future operations. More…
Peers
Gulfport Energy Corp competes with a number of other companies, including Byron Energy Ltd, Kolibri Global Energy Inc, and Devin Energy Corp, all of which strive to be the top provider of energy-related services and products. As companies strive to increase their market share and customer base, the competition between Gulfport Energy Corp and its competitors has become fierce.
– Byron Energy Ltd ($ASX:BYE)
Byron Energy Ltd is an oil and gas exploration and production company. It has a market cap of 119.63M as of 2022 and a Return on Equity of 15.55%. The market capitalization of a company is an indicator of its size and reflects the total value of all its outstanding shares. A higher market cap typically indicates that the company has the confidence of investors and is making solid business decisions. The Return on Equity (ROE) measures the rate of return on the investment provided by shareholders. A higher ROE indicates that the company is successfully making use of investor funds and is performing effectively.
– Kolibri Global Energy Inc ($TSX:KEI)
Kolibri Global Energy Inc is an energy company that specializes in producing and distributing renewable energy sources such as solar, wind, and geothermal. The company has a market capitalization of 143.18M as of 2022, which is a reflection of the company’s financial strength and market performance. The company also boasts a Return on Equity (ROE) of 38.16%, which is a measure of the company’s profitability. This high rate of return indicates that investors are confident in the company’s ability to generate profits.
– Devin Energy Corp ($OTCPK:DVNGF)
Devin Energy Corp is an energy company based in Texas that specializes in the exploration and production of natural gas and oil. The company has a market cap of 6.55k as of 2022, which is relatively small compared to other energy companies. Despite its small size, Devin Energy Corp has managed to achieve a Return on Equity (ROE) of 2.58%, which is high compared to the industry average. This indicates that the company is using its equity efficiently and effectively to generate returns for its shareholders.
Summary
GULFPORT ENERGY recently reported their earnings results for the second quarter of FY2023 and the results were not positive. Total revenue decreased by 67.4% year over year, coming in at USD 207.9 million, and net income dropped 63.5% year over year, amounting to USD 93.7 million. This is concerning and investors should be cautious when considering investing in GULFPORT ENERGY.
It will be important to monitor the company in the upcoming quarters to see if these trends reverse or continue. Given the current financials, investors should do further research and analysis before investing in GULFPORT ENERGY.
