2016 Q4 Form 10-Q Financial Statement

#000152000616000387 Filed on November 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $85.00M $88.73M $67.70M
YoY Change 25.55% -10.35% -56.01%
Cost Of Revenue $29.00M $28.40M $24.20M
YoY Change 19.83% 16.87% -6.92%
Gross Profit $56.00M $60.30M $43.50M
YoY Change 28.74% -19.17% -65.99%
Gross Profit Margin 65.88% 67.96% 64.25%
Selling, General & Admin $15.60M $13.10M $11.60M
YoY Change 34.48% 7.38% 33.33%
% of Gross Profit 27.86% 21.72% 26.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.80M $30.02M $35.30M
YoY Change -9.92% -33.65% -19.22%
% of Gross Profit 56.79% 49.78% 81.15%
Operating Expenses $47.80M $43.50M $47.20M
YoY Change 1.27% -24.48% -10.44%
Operating Profit $8.200M $16.85M -$3.700M
YoY Change -321.62% -106.27% -104.92%
Interest Expense -$8.000M $6.880M -$6.600M
YoY Change 21.21% -4.83% 312.5%
% of Operating Profit -97.56% 40.82%
Other Income/Expense, Net $0.00 -$5.948M $0.00
YoY Change -10.76% -100.0%
Pretax Income $104.4M $10.91M -$228.6M
YoY Change -145.67% -103.96% -408.09%
Income Tax $100.0K -$1.141M $1.700M
% Of Pretax Income 0.1% -10.46%
Net Earnings $104.2M $11.93M -$230.4M
YoY Change -145.23% -104.93% -594.42%
Net Earnings / Revenue 122.59% 13.45% -340.32%
Basic Earnings Per Share $0.13
Diluted Earnings Per Share $1.097M $0.13 -$2.720M
COMMON SHARES
Basic Shares Outstanding 93.47M shares 93.38M shares 85.56M shares
Diluted Shares Outstanding 93.72M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $212.9M $20.60M $16.70M
YoY Change 1174.85% 48.2% 98.81%
Cash & Equivalents $212.9M $20.57M $16.73M
Short-Term Investments
Other Short-Term Assets $279.2M $5.100M $63.80M
YoY Change 337.59% -92.03% 10.38%
Inventory $3.000M $3.200M $2.000M
Prepaid Expenses $3.277M $3.203M
Receivables $34.15M $27.74M $16.62M
Other Receivables $5.167M $5.657M $10.79M
Total Short-Term Assets $279.2M $81.02M $127.0M
YoY Change 119.82% -35.97% 12.98%
LONG-TERM ASSETS
Property, Plant & Equipment $1.185B $1.096B $1.012B
YoY Change 17.0% -4.06% -23.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $958.0K $968.0K $1.448M
YoY Change -33.84% 319.05%
Total Long-Term Assets $1.185B $1.097B $1.014B
YoY Change 16.93% -4.97% -23.31%
TOTAL ASSETS
Total Short-Term Assets $279.2M $81.02M $127.0M
Total Long-Term Assets $1.185B $1.097B $1.014B
Total Assets $1.465B $1.178B $1.141B
YoY Change 28.38% -8.03% -20.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.674M $4.534M $10.97M
YoY Change -57.38% -71.68% -37.43%
Accrued Expenses $101.5M $93.34M $92.37M
YoY Change 9.84% -8.78% -13.96%
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 $169.5M $151.6M $136.8M
YoY Change 23.88% -1.08% -3.67%
LONG-TERM LIABILITIES
Long-Term Debt $573.9M $457.2M $391.3M
YoY Change 46.66% 16.93% 15.7%
Other Long-Term Liabilities $7.544M $7.451M $2.190M
YoY Change 244.47% 322.15% -13.78%
Total Long-Term Liabilities $603.7M $588.3M $515.1M
YoY Change 17.21% 43.26% 20.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $169.5M $151.6M $136.8M
Total Long-Term Liabilities $603.7M $588.3M $515.1M
Total Liabilities $773.2M $739.9M $651.9M
YoY Change 18.61% 31.21% 14.78%
SHAREHOLDERS EQUITY
Retained Earnings -$636.4M -$740.5M -$538.9M
YoY Change 18.08% 140.01% -482.61%
Common Stock $995.0K $936.0K $856.0K
YoY Change 16.24% 9.22% 16.62%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares 6.833K shares 2.586K shares
Shareholders Equity $690.1M $436.6M $488.0M
YoY Change
Total Liabilities & Shareholders Equity $1.465B $1.178B $1.141B
YoY Change 28.38% -8.03% -20.47%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income $104.2M $11.93M -$230.4M
YoY Change -145.23% -104.93% -594.42%
Depreciation, Depletion And Amortization $31.80M $30.02M $35.30M
YoY Change -9.92% -33.65% -19.22%
Cash From Operating Activities $37.60M $46.90M $22.60M
YoY Change 66.37% -35.31% -68.21%
INVESTING ACTIVITIES
Capital Expenditures -$108.6M -$135.4M -$115.5M
YoY Change -5.97% 21.11% -27.86%
Acquisitions
YoY Change
Other Investing Activities -$42.50M $3.800M $96.00M
YoY Change -144.27% 1800.0% -19300.0%
Cash From Investing Activities -$151.1M -$131.6M -$19.60M
YoY Change 670.92% 17.92% -87.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 262.7M 64.40M -200.0K
YoY Change -131450.0% -9300.0% -100.22%
NET CHANGE
Cash From Operating Activities 37.60M 46.90M 22.60M
Cash From Investing Activities -151.1M -131.6M -19.60M
Cash From Financing Activities 262.7M 64.40M -200.0K
Net Change In Cash 149.2M -20.30M 2.800M
YoY Change 5228.57% -48.99% 300.0%
FREE CASH FLOW
Cash From Operating Activities $37.60M $46.90M $22.60M
Capital Expenditures -$108.6M -$135.4M -$115.5M
Free Cash Flow $146.2M $182.3M $138.1M
YoY Change 5.87% -1.09% -40.27%

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CY2016Q3 us-gaap Natural Gas Midstream Revenue
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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CY2016Q3 us-gaap Net Income Loss
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CY2016Q3 us-gaap Other Inventory Net Of Reserves
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530000 USD
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2190000 USD
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7451000 USD
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-5948000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-17121000 USD
CY2015Q4 us-gaap Other Receivables Net Current
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10794000 USD
CY2016Q3 us-gaap Other Receivables Net Current
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5657000 USD
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9479000 USD
us-gaap Payments Of Debt Issuance Costs
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0 USD
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us-gaap Payments Of Stock Issuance Costs
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830000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1565000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1552000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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24028000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
46738000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
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57148000 USD
CY2015Q3 us-gaap Payments To Acquire Productive Assets
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90524000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
356094000 USD
CY2016Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
135552000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
333501000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
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334951000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
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288175000 USD
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400000000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
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0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
125000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
65000000 USD
us-gaap Proceeds From Minority Shareholders
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562000 USD
us-gaap Proceeds From Minority Shareholders
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0 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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0 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
5173000 USD
CY2015Q4 us-gaap Proceeds From Sale Of Property Plant And Equipment
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143000000 USD
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10000 USD
us-gaap Proceeds From Stock Options Exercised
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0 USD
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us-gaap Profit Loss
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1095705000 USD
CY2015Q4 us-gaap Property Plant And Equipment Other
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CY2016Q3 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
141420000 USD
us-gaap Repayments Of Lines Of Credit
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476982000 USD
us-gaap Repayments Of Lines Of Credit
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0 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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44357000 USD
CY2016Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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1803000 USD
us-gaap Restricted Stock Expense
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0 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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-538930000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2015Q3 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
250302000 USD
CY2016Q3 us-gaap Revenues
Revenues
88733000 USD
us-gaap Revenues
Revenues
179449000 USD
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141500000 USD
us-gaap Share Based Compensation
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6886000 USD
us-gaap Share Based Compensation
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9138000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
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CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
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15.00
CY2016Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
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us-gaap Stock Issued During Period Value New Issues
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142350000 USD
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CY2015Q4 us-gaap Stockholders Equity
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CY2016Q3 us-gaap Stockholders Equity
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CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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437794000 USD
CY2015Q3 us-gaap Unrealized Gain Loss On Derivatives
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6733000 USD
us-gaap Unrealized Gain Loss On Derivatives
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CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0 shares
CY2016Q3 us-gaap Unrealized Gain Loss On Derivatives
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3203000 USD
us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
340000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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84685000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80481000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
90016000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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84685000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80481000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93384000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
90016000 shares
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 Delaware Basin in Southeast New Mexico and West Texas. The Company also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana and East Texas. Additionally, the Company conducts midstream operations in support of its exploration, development and production operations and provides natural gas processing, natural gas, oil and salt water gathering services and salt water disposal services to third parties on a limited basis.</font></div></div>
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 periods&#8217; financial statements to conform to the current period presentation.</font></div></div>

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