Will Gulfport Energy Corporation make a turn-around in its coming quarterly financial report?
It’s the question raised as the Oklahoma City energy firm plans to release its third quarter earnings report following the close of markets on Tuesday, Nov. 5.
Company leaders will follow the release with a teleconference and webcast to discuss the results at 8 a.m. the next day, Wednesday, Nov. 6.
Gulfport recorded a $26.2 million net loss in the second quarter along with $54 million of adjusted net income and $164.4 million of adjusted EBITDA. It also generated $123.5 million in net cash from its operating activities and $20.2 million of adjusted free cash flow.
Gulfport also managed to repurchase nearly 160.6 thousand shares during the second quarter at a cost of about $25 million. The company also revealed it turned to sales its first Utica condensate pad in four years and recently completed drilling of a second Utica condensate pad in Harrison County, Ohio, part of the Marcellus formation where some of its principal properties are located.
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