Falcon Minerals Corporation (FLMN) Tops Q2 EPS by 1c

Falcon Minerals Corporation (NASDAQ: FLMN) reported Q2 EPS of $0.08, $0.01 better than the analyst estimate of $0.07. Revenue for the quarter came in at $18.9 million versus the consensus estimate of $18.03 million.

Bryan C. Gunderson, President and Chief Executive Officer of Falcon Minerals commented, “The high net revenue interest wells that we saw turn in line late in the first quarter and early in the second quarter helped deliver compelling quarter over quarter growth. Production grew by 22% and Pro-forma Free Cash Flow grew approximately 48% sequentially over the first quarter 2021. Falcon’s shareholders are benefitting directly from this Free Cash Flow generation through the company’s dividend and the 50% increase to $0.15 per share.” Mr. Gunderson continued by saying, “The balance sheet is strong with a 10% reduction to borrowings outstanding under the Company’s credit facility and Net Debt to LTM EBITDA decreasing to 0.92x. Looking ahead to the second half of the year, we anticipate that Falcon’s Free Cash Flow will provide an attractive yield to investors.” Mr. Gunderson concluded by saying “I am excited to welcome Matt Ockwood to the team as Chief Financial Officer. Together, we look forward to driving value for Falcon shareholders.”

For earnings history and earnings-related data on Falcon Minerals Corporation (FLMN) click here.

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