2024 Q2 Form 10-Q Financial Statement

#000095017024051815 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $246.8M $335.8M $489.6M
YoY Change -14.36% -31.42% -6.72%
Cost Of Revenue $134.9M $148.2M $196.1M
YoY Change -12.35% -24.41% 74.3%
Gross Profit $111.9M $187.5M $293.5M
YoY Change -16.66% -36.1% -35.77%
Gross Profit Margin 45.35% 55.85% 59.95%
Selling, General & Admin $10.18M $9.692M $12.88M
YoY Change -3.44% -24.73% 51.61%
% of Gross Profit 9.09% 5.17% 4.39%
Research & Development $0.00 $0.00 $1.775M
YoY Change -100.0% 73.85%
% of Gross Profit 0.0% 0.0% 0.6%
Depreciation & Amortization $194.2M $190.7M $134.0M
YoY Change 38.57% 42.32% 25.54%
% of Gross Profit 173.55% 101.68% 45.65%
Operating Expenses $339.3M $348.6M $344.0M
YoY Change 125.14% 1.36% 82.89%
Operating Profit -$92.49M -$12.85M $145.6M
YoY Change 463.33% -108.82% -56.76%
Interest Expense $51.93M $49.56M $38.27M
YoY Change -218.88% 29.49% -17.68%
% of Operating Profit 26.28%
Other Income/Expense, Net -$76.86M -$9.919M $28.60M
YoY Change -12953.18% -134.68% -105.96%
Pretax Income -$169.4M -$22.77M $174.2M
YoY Change 181.55% -113.07% -221.79%
Income Tax -$46.11M -$8.292M $39.72M
% Of Pretax Income 22.8%
Net Earnings -$126.3M -$16.32M $134.5M
YoY Change 176.35% -112.13% -220.71%
Net Earnings / Revenue -51.17% -4.86% 27.47%
Basic Earnings Per Share -$0.43 -$0.05 $0.49
Diluted Earnings Per Share -$0.43 -$0.05 $0.49
COMMON SHARES
Basic Shares Outstanding 292.2M 278.4M 277.5M shares
Diluted Shares Outstanding 289.7M 278.0M 276.6M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.27M $6.420M $33.68M
YoY Change 94.27% -80.94% 177.47%
Cash & Equivalents $19.27M $6.420M $33.68M
Short-Term Investments
Other Short-Term Assets $69.29M $77.81M $59.52M
YoY Change 7.46% 30.73% 335.39%
Inventory
Prepaid Expenses $2.109M $2.295M $2.543M
Receivables $113.4M $83.80M $177.8M
Other Receivables $10.88M $13.45M $15.24M
Total Short-Term Assets $323.4M $358.1M $422.8M
YoY Change 14.62% -15.32% 57.76%
LONG-TERM ASSETS
Property, Plant & Equipment $5.575B $5.526B $4.860B
YoY Change 6.82% 13.7% 17.7%
Goodwill $335.9M $335.9M $335.9M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $6.001B $5.959B $5.278B
YoY Change 8.04% 12.9% 17.77%
TOTAL ASSETS
Total Short-Term Assets $323.4M $358.1M $422.8M
Total Long-Term Assets $6.001B $5.959B $5.278B
Total Assets $6.325B $6.317B $5.701B
YoY Change 8.36% 10.81% 20.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $377.9M $441.0M $443.5M
YoY Change -31.58% -0.57% 39.14%
Accrued Expenses $139.4M $80.86M $145.8M
YoY Change -33.53% -44.53% 41.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $552.3M $556.0M $628.3M
YoY Change -27.53% -11.51% -33.05%
LONG-TERM LIABILITIES
Long-Term Debt $2.856B $2.702B $2.154B
YoY Change 31.23% 25.43% -14.99%
Other Long-Term Liabilities $134.7M $118.5M $73.06M
YoY Change -8.41% 62.23% 304304.17%
Total Long-Term Liabilities $2.856B $2.702B $2.154B
YoY Change 22.92% 25.43% -15.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $552.3M $556.0M $628.3M
Total Long-Term Liabilities $2.856B $2.702B $2.154B
Total Liabilities $3.959B $3.839B $3.321B
YoY Change 11.93% 15.6% -9.67%
SHAREHOLDERS EQUITY
Retained Earnings $815.6M $941.9M $986.0M
YoY Change -9.93% -4.46% -408.32%
Common Stock $146.1M $146.1M $138.8M
YoY Change 4.94% 5.29% 19.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.320B $2.446B $2.380B
YoY Change
Total Liabilities & Shareholders Equity $6.325B $6.317B $5.701B
YoY Change 8.36% 10.81% 20.03%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$126.3M -$16.32M $134.5M
YoY Change 176.35% -112.13% -220.71%
Depreciation, Depletion And Amortization $194.2M $190.7M $134.0M
YoY Change 38.57% 42.32% 25.54%
Cash From Operating Activities $83.58M $171.5M $386.4M
YoY Change -74.79% -55.6% 36.02%
INVESTING ACTIVITIES
Capital Expenditures $236.7M $351.5M $371.0M
YoY Change -36.52% -5.25% 73.93%
Acquisitions
YoY Change
Other Investing Activities $9.252M $3.232M -$1.554M
YoY Change -72.97% -307.98% -3553.33%
Cash From Investing Activities -$227.5M -$348.2M -$372.5M
YoY Change -32.83% -6.52% 74.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 156.8M 166.5M -$34.83M
YoY Change -1045.03% -577.87% -61.01%
NET CHANGE
Cash From Operating Activities 83.58M 171.5M $386.4M
Cash From Investing Activities -227.5M -348.2M -$372.5M
Cash From Financing Activities 156.8M 166.5M -$34.83M
Net Change In Cash 12.85M -10.25M -$20.98M
YoY Change -154.09% -51.14% 13.22%
FREE CASH FLOW
Cash From Operating Activities $83.58M $171.5M $386.4M
Capital Expenditures $236.7M $351.5M $371.0M
Free Cash Flow -$153.2M -$179.9M $15.41M
YoY Change 270.0% -1267.55% -78.22%

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