2015 Q1 Form 10-Q Financial Statement

#000152000615000092 Filed on May 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2014 Q1
Revenue $72.41M $153.9M $73.98M
YoY Change -2.12% 124.02% 34.79%
Cost Of Revenue $20.10M $26.00M $15.40M
YoY Change 30.52% 73.33% 2.67%
Gross Profit $52.30M $127.9M $58.60M
YoY Change -10.75% 138.18% 46.87%
Gross Profit Margin 72.23% 83.11% 79.21%
Selling, General & Admin $13.40M $8.700M $7.200M
YoY Change 86.11% 31.82% 56.52%
% of Gross Profit 25.62% 6.8% 12.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $46.47M $43.70M $24.03M
YoY Change 93.38% 83.61% -14.88%
% of Gross Profit 88.85% 34.17% 41.01%
Operating Expenses $60.00M $52.70M $31.30M
YoY Change 91.69% 72.79% -4.86%
Operating Profit -$74.81M $75.20M $27.26M
YoY Change -374.44% 224.14% -291.21%
Interest Expense $2.070M -$1.600M $1.396M
YoY Change 48.28% 100.0% 9.83%
% of Operating Profit -2.13% 5.12%
Other Income/Expense, Net -$1.783M $600.0K -$1.358M
YoY Change 31.3% 12.79%
Pretax Income -$76.59M $74.20M $25.90M
YoY Change -395.72% 231.25% -267.53%
Income Tax -$26.39M $27.70M $9.536M
% Of Pretax Income 37.33% 36.82%
Net Earnings -$50.23M $46.60M $16.36M
YoY Change -407.0% 202.6% -205.53%
Net Earnings / Revenue -69.37% 30.28% 22.12%
Basic Earnings Per Share -$0.68 $0.25
Diluted Earnings Per Share -$0.68 $629.7K $0.25
COMMON SHARES
Basic Shares Outstanding 73.82M shares 73.36M shares 65.68M shares
Diluted Shares Outstanding 73.82M shares 66.23M shares

Balance Sheet

Concept 2015 Q1 2014 Q4 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.100M $8.400M $14.30M
YoY Change -57.34% 33.33% 197.92%
Cash & Equivalents $6.061M $8.407M $14.34M
Short-Term Investments
Other Short-Term Assets $51.00M $57.80M $5.100M
YoY Change 900.0% 1276.19% 34.21%
Inventory $1.700M $1.200M $900.0K
Prepaid Expenses $3.025M $1.649M $2.195M
Receivables $26.35M $28.98M $31.79M
Other Receivables $7.114M $9.091M $1.268M
Total Short-Term Assets $105.2M $112.4M $58.98M
YoY Change 78.36% 162.2% 58.12%
LONG-TERM ASSETS
Property, Plant & Equipment $1.582B $1.322B $959.9M
YoY Change 64.76% 56.3% 57.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $703.0K $0.00 $2.574M
YoY Change -72.69% -100.0% -11.24%
Total Long-Term Assets $1.582B $1.322B $962.8M
YoY Change 64.34% 56.0% 57.06%
TOTAL ASSETS
Total Short-Term Assets $105.2M $112.4M $58.98M
Total Long-Term Assets $1.582B $1.322B $962.8M
Total Assets $1.687B $1.434B $1.022B
YoY Change 65.15% 61.12% 57.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.48M $17.53M $6.328M
YoY Change 871.49% -30.89% -71.5%
Accrued Expenses $128.8M $107.4M $109.2M
YoY Change 18.04% 67.78% 171.54%
Deferred Revenue
YoY Change
Short-Term Debt $12.00M $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $232.2M $142.0M $132.9M
YoY Change 74.75% 41.57% 83.28%
LONG-TERM LIABILITIES
Long-Term Debt $410.0M $338.2M $270.0M
YoY Change 51.85% 69.1% 31.71%
Other Long-Term Liabilities $2.451M $2.540M $3.076M
YoY Change -20.32% -1.85% -60.05%
Total Long-Term Liabilities $532.4M $425.9M $302.5M
YoY Change 76.02% 92.65% 42.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $232.2M $142.0M $132.9M
Total Long-Term Liabilities $532.4M $425.9M $302.5M
Total Liabilities $764.6M $567.9M $435.3M
YoY Change 75.64% 76.71% 52.11%
SHAREHOLDERS EQUITY
Retained Earnings $90.62M $140.9M $46.45M
YoY Change 95.11% 368.21%
Common Stock $769.0K $734.0K $671.0K
YoY Change 14.61% 9.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $0.00 $10.77M
YoY Change -100.0% -100.0%
Treasury Stock Shares 64.50K shares 30.97K shares 1.302M shares
Shareholders Equity $922.2M $866.4M $586.4M
YoY Change
Total Liabilities & Shareholders Equity $1.687B $1.434B $1.022B
YoY Change 65.15% 61.12% 57.12%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2014 Q1
OPERATING ACTIVITIES
Net Income -$50.23M $46.60M $16.36M
YoY Change -407.0% 202.6% -205.53%
Depreciation, Depletion And Amortization $46.47M $43.70M $24.03M
YoY Change 93.38% 83.61% -14.88%
Cash From Operating Activities $93.35M $71.10M $31.95M
YoY Change 192.21% 35.95% -0.88%
INVESTING ACTIVITIES
Capital Expenditures -$141.7M -$160.1M -$93.90M
YoY Change 50.91% 49.77% 10.73%
Acquisitions $24.03M $0.00
YoY Change
Other Investing Activities -$24.40M -$500.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$166.1M -$160.6M -$93.90M
YoY Change 76.89% 50.37% 10.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $70.40M 90.20M $70.01M
YoY Change 0.56% 65.2% 27.28%
NET CHANGE
Cash From Operating Activities $93.35M 71.10M $31.95M
Cash From Investing Activities -$166.1M -160.6M -$93.90M
Cash From Financing Activities $70.40M 90.20M $70.01M
Net Change In Cash -$2.346M 700.0K $8.053M
YoY Change -129.13% 600.0% 214.94%
FREE CASH FLOW
Cash From Operating Activities $93.35M $71.10M $31.95M
Capital Expenditures -$141.7M -$160.1M -$93.90M
Free Cash Flow $235.0M $231.2M $125.8M
YoY Change 86.77% 45.23% 7.53%

Facts In Submission

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CY2015Q1 us-gaap Notes Payable Current
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CY2015Q1 us-gaap Preferred Stock Value
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CY2015Q1 us-gaap Property Plant And Equipment Other
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CY2015Q1 us-gaap Restricted Stock Expense
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CY2014Q1 us-gaap Revenues
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CY2014Q1 us-gaap Stock Issued During Period Value Issued For Services
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CY2014Q4 us-gaap Stockholders Equity
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CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2014Q4 us-gaap Treasury Stock Shares
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CY2015Q1 us-gaap Treasury Stock Shares
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TreasuryStockValue
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CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
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CY2014Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2015Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73819000 shares
CY2015Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NATURE OF OPERATIONS</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Matador Resources Company, a Texas corporation (&#8220;Matador&#8221; and, collectively with its subsidiaries, the &#8220;Company&#8221;), is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. The Company&#8217;s current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Permian Basin in Southeast New Mexico and West Texas and the Eagle Ford shale play in South Texas. The Company also operates in the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas.</font></div></div>
CY2015Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">Reclassifications</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to the prior years&#8217; financial statements to conform to the current year presentation. These reclassifications had no effect on previously reported results of operations, cash flows or retained earnings.</font></div></div>

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