2018 Q2 Form 10-Q Financial Statement

#000153983818000093 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $527.0M $269.4M
YoY Change 95.6% 139.53%
Cost Of Revenue $99.30M $49.70M
YoY Change 99.8% 69.62%
Gross Profit $427.0M $219.7M
YoY Change 94.36% 164.06%
Gross Profit Margin 81.02% 81.54%
Selling, General & Admin $15.00M $11.89M
YoY Change 26.14% 24.86%
% of Gross Profit 3.51% 5.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $130.0M $75.17M
YoY Change 72.93% 88.54%
% of Gross Profit 30.44% 34.22%
Operating Expenses $15.00M $11.89M
YoY Change 26.14% -95.19%
Operating Profit $281.0M $132.3M
YoY Change 112.38% -198.16%
Interest Expense -$16.00M -$8.245M
YoY Change 94.06% -17.71%
% of Operating Profit -5.69% -6.23%
Other Income/Expense, Net $13.00M $33.40M
YoY Change -61.08% -252.04%
Pretax Income $294.0M $165.7M
YoY Change 77.42% -205.71%
Income Tax -$7.000M $1.579M
% Of Pretax Income -2.38% 0.95%
Net Earnings $219.0M $158.4M
YoY Change 38.25% -201.87%
Net Earnings / Revenue 41.56% 58.79%
Basic Earnings Per Share $2.22 $1.61
Diluted Earnings Per Share $2.22 $1.61
COMMON SHARES
Basic Shares Outstanding 98.61M shares 98.14M shares
Diluted Shares Outstanding 98.80M shares 98.35M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.0M $17.00M
YoY Change 570.59% -92.24%
Cash & Equivalents $114.0M $16.59M
Short-Term Investments
Other Short-Term Assets $7.266M $45.19M
YoY Change -83.92% 1910.19%
Inventory $13.26M $4.925M
Prepaid Expenses
Receivables $167.9M $82.95M
Other Receivables $0.00 $0.00
Total Short-Term Assets $393.3M $221.3M
YoY Change 77.71% -25.71%
LONG-TERM ASSETS
Property, Plant & Equipment $8.343B $6.509B
YoY Change 28.18% 160.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $37.39M $49.03M
YoY Change -23.73% 6.5%
Total Long-Term Assets $8.561B $6.562B
YoY Change 30.45% 158.12%
TOTAL ASSETS
Total Short-Term Assets $393.3M $221.3M
Total Long-Term Assets $8.561B $6.562B
Total Assets $8.954B $6.784B
YoY Change 31.99% 138.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.00M $28.00M
YoY Change 164.29% -3.45%
Accrued Expenses $464.0M $243.0M
YoY Change 90.95% 161.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $727.1M $323.2M
YoY Change 124.99% 128.06%
LONG-TERM LIABILITIES
Long-Term Debt $1.967B $1.152B
YoY Change 70.82% 132.88%
Other Long-Term Liabilities $30.00M $20.00M
YoY Change 50.0% 11.11%
Total Long-Term Liabilities $1.967B $1.152B
YoY Change 70.82% 132.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $727.1M $323.2M
Total Long-Term Liabilities $1.967B $1.152B
Total Liabilities $2.942B $1.497B
YoY Change 96.54% 128.95%
SHAREHOLDERS EQUITY
Retained Earnings $323.1M -$224.7M
YoY Change -243.78% -58.6%
Common Stock $5.307B $5.041B
YoY Change 5.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.631B $4.818B
YoY Change
Total Liabilities & Shareholders Equity $8.954B $6.784B
YoY Change 32.0% 138.84%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $219.0M $158.4M
YoY Change 38.25% -201.87%
Depreciation, Depletion And Amortization $130.0M $75.17M
YoY Change 72.93% 88.54%
Cash From Operating Activities $425.0M $218.5M
YoY Change 94.51% 345.92%
INVESTING ACTIVITIES
Capital Expenditures -$616.5M -$396.2M
YoY Change 55.6% 441.26%
Acquisitions
YoY Change
Other Investing Activities $2.900M $100.0K
YoY Change 2800.0% 0.0%
Cash From Investing Activities -$613.7M -$396.0M
YoY Change 54.97% 440.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 230.2M 156.7M
YoY Change 46.9% 2076.39%
NET CHANGE
Cash From Operating Activities 425.0M 218.5M
Cash From Investing Activities -613.7M -396.0M
Cash From Financing Activities 230.2M 156.7M
Net Change In Cash 41.50M -20.80M
YoY Change -299.52% 22.35%
FREE CASH FLOW
Cash From Operating Activities $425.0M $218.5M
Capital Expenditures -$616.5M -$396.2M
Free Cash Flow $1.042B $614.7M
YoY Change 69.43% 403.03%

Facts In Submission

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4375000 USD
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13825000 USD
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us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
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us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
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us-gaap Payments To Explore And Develop Oil And Gas Properties
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0 USD
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0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
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us-gaap Proceeds From Lines Of Credit
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358000 USD
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us-gaap Share Based Compensation
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CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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212000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
260000 shares
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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183000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts included in or affecting the Company&#8217;s consolidated financial statements and related disclosures must be estimated by management, requiring certain assumptions to be made with respect to values or conditions that cannot be known with certainty at the time the consolidated financial statements are prepared. These estimates and assumptions affect the amounts the Company reports for assets and liabilities and the Company&#8217;s disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from those estimates.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Company considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Company&#8217;s estimates. Any effects on the Company&#8217;s business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known. Significant items subject to such estimates and assumptions include estimates of proved oil and natural gas reserves and related present value estimates of future net cash flows therefrom, the carrying value of oil and natural gas properties, asset retirement obligations, the fair value determination of acquired assets and liabilities assumed, equity-based compensation, fair value estimates of commodity derivatives and estimates of income taxes.</font></div></div>

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