SANDRIDGE ENERGY Reports Third Quarter Earnings Results for Fiscal Year 2023

☀️Earnings Overview

For the third quarter of Fiscal Year 2023, ending September 30, 2023, SANDRIDGE ENERGY ($NYSE:SD) reported total revenue of USD 38.1 million, a decrease of 46.2% year-over-year. Net income for the same period was USD 18.7 million, a decrease of 65.2% compared to the same quarter of the preceding year.

Price History

SANDRIDGE ENERGY opened at $16.1 and closed at $15.5, a decrease of 4.1% from its prior closing price. This increase was attributed to higher natural gas and oil sales, coupled with lower operating expenses. Overall, these results demonstrate that despite the challenging market conditions, Sandridge Energy has been able to maintain its financial strength and continue generating positive results. With the current trends in energy markets, the company is well positioned to continue to deliver strong results in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Sandridge Energy. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Sandridge Energy. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Sandridge Energy. More…

Key Ratios Snapshot

Some of the financial key ratios for Sandridge Energy are shown below. More…

Analysis

GoodWhale has conducted a fundamental analysis of SANDRIDGE ENERGY. After assessing its performance using the Star Chart, we concluded that SANDRIDGE ENERGY is a ‘cow’, a type of company with a track record of paying out consistent and sustainable dividends. This makes it an attractive investment opportunity for various types of investors, such as dividend-focused investors and value investors. Furthermore, GoodWhale has also assessed the company’s financial standing using our own assessment metrics. We found that SANDRIDGE ENERGY is strong in asset, profitability, and average in dividend yields, but weak in growth. We have also rated its overall health score as 8/10 with regard to its cashflows and debt – this suggests that SANDRIDGE ENERGY is capable of paying off its debt and funding future operations. More…

Peers

SandRidge Energy Inc is an American oil and natural gas company headquartered in Oklahoma City, Oklahoma. As of December 31, 2015, the company had 1,206.6 million barrels of oil equivalent of estimated proved reserves, of which 55% was petroleum, 41% was natural gas and 4% was natural gas liquids. The company also had estimated proved reserves of 2,473.5 Mboe in Canada. The company’s estimated proved reserves were primarily located in the Mid-Continent, Mississippi, Gulf Coast and Permian Basin regions.

– Traverse Energy Ltd ($TSX:PNE)

Pine Cliff Energy is a Canadian oil and gas company with a market cap of $589.7 million as of 2022. The company has a return on equity of 77.26%. Pine Cliff Energy is engaged in the exploration, development, production and marketing of natural gas and crude oil in Alberta and British Columbia, Canada.

– Pine Cliff Energy Ltd ($TSXV:SCD)

The company’s market cap is $1.37 million and its ROE is 11.39%. The company is involved in the exploration and production of oil and gas.

Summary

SANDRIDGE ENERGY reported its third quarter earnings for Fiscal Year 2023, which ended September 30, 2023. Total revenue decreased significantly year-over-year, dropping 46.2% to USD 38.1 million. Net income also dropped by 65.2% to USD 18.7 million from the same quarter in the previous year. This resulted in the stock price moving down on the same day.

Investors should be aware of the drastic decrease in revenue and net income when considering SANDRIDGE ENERGY as an investment option. Analyzing the company’s management, financials, and potential future performance can help investors assess whether this stock is a good fit for their portfolio.