2024 Q4 Form 10-Q Financial Statement

#000152000624000209 Filed on October 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $899.8M $836.1M
YoY Change 16.51% 18.19%
Cost Of Revenue $234.5M $219.7M
YoY Change 13.54% 30.04%
Gross Profit $665.3M $616.4M
YoY Change 17.59% 14.47%
Gross Profit Margin 73.94% 73.72%
Selling, General & Admin $28.79M $29.49M
YoY Change -9.19% -14.55%
% of Gross Profit 4.33% 4.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $242.8M $220.1M
YoY Change 25.95% 67.21%
% of Gross Profit 36.5% 35.7%
Operating Expenses $273.3M $250.8M
YoY Change 21.02% 50.35%
Operating Profit $392.1M $365.6M
YoY Change 15.31% -1.64%
Interest Expense $36.17M -$35.71M
YoY Change 2.15% 117.41%
% of Operating Profit 9.23% -9.77%
Other Income/Expense, Net -$34.06M $3.496M
YoY Change -27.57% -243.34%
Pretax Income $358.0M $333.4M
YoY Change 22.19% -5.51%
Income Tax $85.32M $57.46M
% Of Pretax Income 23.83% 17.23%
Net Earnings $248.3M $254.5M
YoY Change -5.86% 0.29%
Net Earnings / Revenue 27.59% 30.44%
Basic Earnings Per Share $1.99
Diluted Earnings Per Share $1.99 $2.13
COMMON SHARES
Basic Shares Outstanding 124.8M shares 124.8M shares 119.1M shares
Diluted Shares Outstanding 125.0M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.28M $52.66M
YoY Change -10.13% -89.58%
Cash & Equivalents $23.28M $52.66M
Short-Term Investments
Other Short-Term Assets $183.7M $148.4M
YoY Change 49.31% 52.02%
Inventory $34.12M $41.81M
Prepaid Expenses
Receivables $297.8M $274.2M
Other Receivables $52.66M $35.10M
Total Short-Term Assets $847.2M $715.9M
YoY Change 19.09% -33.21%
LONG-TERM ASSETS
Property, Plant & Equipment $9.546B $6.956B
YoY Change 42.99% 57.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $115.0M $0.00
YoY Change
Other Assets $113.1M $54.13M
YoY Change 118.13% -16.05%
Total Long-Term Assets $9.776B $7.011B
YoY Change 45.31% 56.4%
TOTAL ASSETS
Total Short-Term Assets $847.2M $715.9M
Total Long-Term Assets $9.776B $7.011B
Total Assets $10.62B $7.727B
YoY Change 42.8% 39.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $114.2M $68.19M
YoY Change 40.24% 15.87%
Accrued Expenses $474.2M $365.8M
YoY Change 29.15% 40.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.254M
YoY Change 83.07%
Total Short-Term Liabilities $966.0M $685.3M
YoY Change 33.73% 19.0%
LONG-TERM LIABILITIES
Long-Term Debt $3.596B $2.207B
YoY Change 64.31% 90.16%
Other Long-Term Liabilities $61.03M $38.48M
YoY Change 380.1% 92.8%
Total Long-Term Liabilities $4.561B $2.914B
YoY Change 60.52% 75.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $966.0M $685.3M
Total Long-Term Liabilities $4.561B $2.914B
Total Liabilities $5.527B $3.599B
YoY Change 55.09% 60.87%
SHAREHOLDERS EQUITY
Retained Earnings $2.374B $1.777B
YoY Change 53.57% 76.31%
Common Stock $1.249M $1.194M
YoY Change 4.78% 0.34%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.029M $45.00K
YoY Change -40.33% 32.35%
Treasury Stock Shares
Shareholders Equity $4.871B $3.911B
YoY Change
Total Liabilities & Shareholders Equity $10.62B $7.727B
YoY Change 42.8% 39.11%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income $248.3M $254.5M
YoY Change -5.86% 0.29%
Depreciation, Depletion And Amortization $242.8M $220.1M
YoY Change 25.95% 67.21%
Cash From Operating Activities $610.4M $618.3M
YoY Change 32.42% 38.48%
INVESTING ACTIVITIES
Capital Expenditures $358.9M $428.1M
YoY Change -0.06% 67.53%
Acquisitions
YoY Change
Other Investing Activities -$1.802B -$120.8M
YoY Change 2697.64% 480.02%
Cash From Investing Activities -$2.161B -$548.9M
YoY Change 410.05% 98.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.563B -25.36M
YoY Change -3912.81% -60.72%
NET CHANGE
Cash From Operating Activities 610.4M 618.3M
Cash From Investing Activities -2.161B -548.9M
Cash From Financing Activities 1.563B -25.36M
Net Change In Cash 13.12M 44.12M
YoY Change -464.44% -58.22%
FREE CASH FLOW
Cash From Operating Activities $610.4M $618.3M
Capital Expenditures $358.9M $428.1M
Free Cash Flow $251.5M $190.2M
YoY Change 146.86% -0.39%

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us-gaap Increase Decrease In Royalties Payable
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mtdr Increase Decrease In Payments Made In Advance By Joint Interest Partners In Oil And Gas Properties
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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mtdr Payments To Acquire Midstream Capital Expenditures
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mtdr Payments To Acquire Midstream Capital Expenditures
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mtdr Capital Contributed To Corporate Joint Ventures
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mtdr Capital Contributed To Corporate Joint Ventures
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Nature Of Operations
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NATURE OF OPERATIONSMatador Resources Company, a Texas corporation (“Matador” and, collectively with its subsidiaries, the “Company”), 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’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. Additionally, the Company conducts midstream operations primarily through its midstream joint venture, San Mateo Midstream, LLC and its subsidiaries (“San Mateo”), and Pronto Midstream, LLC and its subsidiary (“Pronto”) in support of the Company’s exploration, development and production operations and provides natural gas processing, oil transportation services, oil, natural gas and produced water gathering services and produced water disposal services to third parties.
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q3 us-gaap Gain Loss On Sale Of Derivatives
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CY2023Q3 us-gaap Gain Loss On Sale Of Derivatives
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UnrealizedGainLossOnDerivatives
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CY2024Q3 us-gaap Revenues
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CY2024Q3 mtdr Capitalized General And Administrative Costs
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CY2023Q3 mtdr Capitalized General And Administrative Costs
CapitalizedGeneralAndAdministrativeCosts
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mtdr Capitalized General And Administrative Costs
CapitalizedGeneralAndAdministrativeCosts
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mtdr Capitalized General And Administrative Costs
CapitalizedGeneralAndAdministrativeCosts
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CY2024Q3 us-gaap Interest Costs Capitalized
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CY2023Q3 us-gaap Interest Costs Capitalized
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us-gaap Interest Costs Capitalized
InterestCostsCapitalized
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us-gaap Interest Costs Capitalized
InterestCostsCapitalized
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CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
92090000 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
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us-gaap Asset Retirement Obligation Liabilities Settled
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us-gaap Asset Retirement Obligation Revision Of Estimate
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mtdr Asset Acquisition Acquisitions During Period
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us-gaap Asset Retirement Obligation Accretion Expense
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CY2024Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
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CY2024Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
119392000 usd
CY2024Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2024Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2023Q3 us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2024Q2 us-gaap Dividends Common Stock Cash
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CY2024Q3 us-gaap Dividends Common Stock Cash
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CY2024Q3 mtdr Adjustment To Additional Paid In Capital Formation Of Joint Venture Tax
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CY2023Q3 mtdr Adjustment To Additional Paid In Capital Formation Of Joint Venture Tax
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mtdr Adjustment To Additional Paid In Capital Formation Of Joint Venture Tax
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CY2024Q3 us-gaap Derivative Fair Value Of Derivative Net
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CY2024Q3 mtdr Derivative Asset Liability Subject To Master Netting Arrangement
DerivativeAssetLiabilitySubjectToMasterNettingArrangement
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CY2024Q3 mtdr Derivative Asset Liability Net
DerivativeAssetLiabilityNet
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CY2023Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
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CY2023Q4 mtdr Derivative Asset Liability Subject To Master Netting Arrangement
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CY2023Q4 mtdr Derivative Asset Liability Net
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CY2024Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
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CY2023Q3 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
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us-gaap Gain Loss On Derivative Instruments Net Pretax
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CY2024Q3 us-gaap Accrued Liabilities Current
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CY2023Q4 us-gaap Accrued Liabilities Current
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us-gaap Income Taxes Paid
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34283000 usd
us-gaap Income Taxes Paid
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
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mtdr Increase Decrease In Liabilities For Oil And Natural Gas Properties
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mtdr Increase Decrease In Liabilities For Oil And Natural Gas Properties
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63299000 usd
mtdr Increase Decrease In Liabilities For Acquisition Of Oil And Natural Gas Properties
IncreaseDecreaseInLiabilitiesForAcquisitionOfOilAndNaturalGasProperties
1066000 usd
mtdr Increase Decrease In Liabilities For Acquisition Of Oil And Natural Gas Properties
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mtdr Increase Decrease In Liabilities For Support Equipment And Facilities
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mtdr Increase Decrease In Liabilities For Support Equipment And Facilities
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mtdr Stock Based Compensation Expense Benefit Recognized As Liability
StockBasedCompensationExpenseBenefitRecognizedAsLiability
8004000 usd
mtdr Stock Based Compensation Expense Benefit Recognized As Liability
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8557000 usd
mtdr Transfer Of Inventory From To Oil And Natural Gas Properties
TransferOfInventoryFromToOilAndNaturalGasProperties
-13377000 usd
mtdr Transfer Of Inventory From To Oil And Natural Gas Properties
TransferOfInventoryFromToOilAndNaturalGasProperties
550000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23277000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25935000 usd
CY2024Q3 us-gaap Restricted Cash
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53746000 usd
CY2023Q3 us-gaap Restricted Cash
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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77023000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62174000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q3 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
4528000 usd
CY2024Q3 us-gaap Unrealized Gain Loss On Derivatives
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35118000 usd
CY2024Q3 us-gaap Costs And Expenses
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CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
392056000 usd
CY2024Q3 us-gaap Assets
Assets
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CY2024Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2023Q3 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
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CY2023Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
7482000 usd
CY2023Q3 us-gaap Costs And Expenses
CostsAndExpenses
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CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
340010000 usd
CY2023Q3 us-gaap Assets
Assets
7439163000 usd
CY2023Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Gain Loss On Sale Of Derivatives
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us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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us-gaap Costs And Expenses
CostsAndExpenses
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2024Q3 us-gaap Assets
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us-gaap Payments To Acquire Productive Assets
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us-gaap Gain Loss On Sale Of Derivatives
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us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Costs And Expenses
CostsAndExpenses
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us-gaap Operating Income Loss
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CY2023Q3 us-gaap Assets
Assets
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us-gaap Payments To Acquire Productive Assets
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CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
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CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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