Chesapeake reports fourth quarter and full-year 2023 financial and operating results and issues 2024 outlook

Oklahoma city , feb. 20, 2024 /prnewswire/ -- chesapeake energy corporation (nasdaq:chk) today reported fourth quarter and full-year 2023 results and issued 2024 guidance. fourth quarter 2023 highlights: net cash provided by operating activities of $470 million net income totaled $569 million, or $4.02 per fully diluted share; adjusted net income(1) totaled $185 million, or $1.31 per share adjusted ebitdax(1) of $635 million; free cash flow(1) of $91 million produced approximately 3.43 bcfe/d net (98% natural gas) closed remaining eagle ford divestiture package for approximately $700 million full-year 2023 highlights: net cash provided by operating activities of $2.4 billion net income totaled $2.4 billion, or $16.92 per fully diluted share; adjusted net income(1) totaled $702 million, or $4.91 per share adjusted ebitdax(1) of $2.5 billion; free cash flow(1) of $551 million returned approximately $840 million to shareholders, approximately $480 million in dividends and approximately $360 million in share repurchases successfully closed eagle ford divestitures; total proceeds greater than $3.5 billion 2024 outlook highlights: lowering prior capital expenditure guidance approximately 20% to $1.25 – $1.35 billion through rig count reductions and deferring completions and turn-in-lines capital plan generates a baseline guide of 2.65 – 2.75 bcf/d announced southwestern energy merger targeted to close in the second quarter signed lng spas with offtake from delfin lng and sale to gunvor at a jkm linked price (1) a non-gaap measure as defined in the supplemental financial tables available on the company's website at www.chk.com.
CHK Ratings Summary
CHK Quant Ranking