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Matador (NYSE:MTDR) reported earnings after the shut, posting sturdy earnings and dialing up capital spending to drive manufacturing development in 2022, at the expense of shareholder returns:
- Earnings – the Firm posted $1.26 in adjusted EPS versus Bloomberg consensus estimates of $1.08, and delivered free money move of $119m (~2.3% of present market cap).
- Manufacturing – the Firm broke from friends, guiding 2022 manufacturing to 102kboe/d (midpoint) versus This fall outcomes at 87kboe/d, a 17% sequential improve.
- Capex – to drive manufacturing development, the Firm will spend $675m on capex in 2022 (midpoint), a ~32% improve 12 months on 12 months.
- Shareholders – Administration introduced a 5c quarterly dividend, or lower than 1% ahead yield.
Matador (MTDR) is breaking from business in 2022 to observe the shale play guide of years previous. Accelerating development, whereas allocating the lion’s share of money move to manufacturing development moderately than shareholder returns. Thus far this earnings season, friends have been rewarded for doing the alternative, so will probably be attention-grabbing to see how Matador trades tomorrow, on the again of strong This fall outcomes.
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