$VNOM
Viper Energy Inc

2018 Q2 Form 10-Q Financial Statement

#000160206518000015 Filed on May 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q1
Revenue $75.26M $62.18M $33.65M
YoY Change 105.51% 84.77% 137.09%
Cost Of Revenue $4.870M $4.240M $2.070M
YoY Change 75.81% 104.83% 59.23%
Gross Profit $70.40M $57.94M $31.58M
YoY Change 107.98% 83.47% 145.0%
Gross Profit Margin 93.54% 93.18% 93.84%
Selling, General & Admin $2.210M $2.710M $2.290M
YoY Change 30.0% 18.34% 24.46%
% of Gross Profit 3.14% 4.68% 7.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.30M $11.50M $7.800M
YoY Change 37.11% 47.44% -4.88%
% of Gross Profit 18.89% 19.85% 24.7%
Operating Expenses $20.34M $18.48M $12.20M
YoY Change 43.8% 51.41% -67.29%
Operating Profit $54.93M $43.70M $21.45M
YoY Change 144.34% 103.74% -192.84%
Interest Expense -$3.252M $2.098M $612.0K
YoY Change -605.75% 242.81% 42.33%
% of Operating Profit -5.92% 4.8% 2.85%
Other Income/Expense, Net $1.660M -$807.0K -$798.0K
YoY Change -603.03% 1.13% 245.45%
Pretax Income $56.59M $42.90M $20.65M
YoY Change 155.48% 107.73% -188.47%
Income Tax -$71.88M $0.00
% Of Pretax Income -127.02% 0.0%
Net Earnings $99.40M $42.90M $20.65M
YoY Change 348.8% 107.73% -188.47%
Net Earnings / Revenue 132.08% 68.99% 61.36%
Basic Earnings Per Share
Diluted Earnings Per Share $1.354M $376.3K $217.4K
COMMON SHARES
Basic Shares Outstanding 113.9M shares 113.9M shares 87.80M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.90M $18.20M $28.60M
YoY Change 1956.25% -36.36% 508.51%
Cash & Equivalents $32.89M $18.15M $28.56M
Short-Term Investments
Other Short-Term Assets $295.0K $361.0K $208.0K
YoY Change 54.45% 73.56% 1.46%
Inventory
Prepaid Expenses
Receivables $31.08M $28.87M $9.217M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $72.40M $53.89M $44.94M
YoY Change 348.94% 19.92% 280.13%
LONG-TERM ASSETS
Property, Plant & Equipment $1.146B $1.057B $612.6M
YoY Change 59.19% 72.59% 35.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $25.56M $18.82M $35.05M
YoY Change -27.14% -46.3% -1.05%
Total Long-Term Assets $1.244B $1.076B $647.7M
YoY Change 64.73% 66.16% 33.07%
TOTAL ASSETS
Total Short-Term Assets $72.40M $53.89M $44.94M
Total Long-Term Assets $1.244B $1.076B $647.7M
Total Assets $1.316B $1.130B $692.6M
YoY Change 70.67% 63.16% 38.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.000K $576.0K $31.00K
YoY Change 125.0% 1758.06%
Accrued Expenses $3.000M $1.900M $800.0K
YoY Change 76.47% 137.5% -11.11%
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 $3.057M $2.494M $872.0K
YoY Change 80.14% 186.01% -4.18%
LONG-TERM LIABILITIES
Long-Term Debt $350.0M $240.5M $0.00
YoY Change 329.45% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $350.0M $240.5M $0.00
YoY Change 329.45% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.057M $2.494M $872.0K
Total Long-Term Liabilities $350.0M $240.5M $0.00
Total Liabilities $353.1M $243.0M $872.0K
YoY Change 324.36% 27766.28% -98.01%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $388.8M $887.1M $691.7M
YoY Change
Total Liabilities & Shareholders Equity $1.316B $1.130B $692.6M
YoY Change 70.67% 63.16% 38.93%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $99.40M $42.90M $20.65M
YoY Change 348.8% 107.73% -188.47%
Depreciation, Depletion And Amortization $13.30M $11.50M $7.800M
YoY Change 37.11% 47.44% -4.88%
Cash From Operating Activities $63.00M $49.20M $26.10M
YoY Change 78.47% 88.51% 64.15%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$102.6M -$149.9M -$8.600M
YoY Change -10.08% 1643.02%
Cash From Investing Activities -$102.6M -$149.9M -$8.600M
YoY Change -10.08% 1643.02% 309.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 54.40M 94.60M 1.900M
YoY Change 5.22% 4878.95% -119.59%
NET CHANGE
Cash From Operating Activities 63.00M 49.20M 26.10M
Cash From Investing Activities -102.6M -149.9M -8.600M
Cash From Financing Activities 54.40M 94.60M 1.900M
Net Change In Cash 14.80M -6.100M 19.40M
YoY Change -154.61% -131.44% 373.17%
FREE CASH FLOW
Cash From Operating Activities $63.00M $49.20M $26.10M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2018Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<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;">Basis of Presentation </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 accompanying consolidated financial statements and related notes thereto were prepared in conformity with GAAP. All material intercompany balances and transactions are eliminated in consolidation. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;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;">These financial statements have been prepared by the Partnership without audit, pursuant to the rules and regulations of the SEC. They reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for interim periods, on a basis consistent with the annual audited financial statements. All such adjustments are of a normal recurring nature. Certain information, accounting policies and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations, although the Partnership believes the disclosures are adequate to make the information presented not misleading. This Quarterly Report on Form 10&#8211;Q should be read in conjunction with the Partnership&#8217;s most recent Annual Report on Form 10&#8211;K for the fiscal year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, which contains a summary of the Partnership&#8217;s significant accounting policies and other disclosures.</font></div></div>
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;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:left;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 Partnership&#8217;s 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 financial statements are prepared. These estimates and assumptions affect the amounts the Partnership reports for assets and liabilities and the Partnership&#8217;s disclosure of contingent assets and liabilities at the date of the financial statements. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;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 Partnership evaluates these estimates on an ongoing basis, using historical experience, consultation with experts and other methods the Partnership considers reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from the Partnership&#8217;s estimates. Any effects on the Partnership&#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 interests and unit&#8211;based compensation.</font></div></div>

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