SilverBow Resources, Inc. (SBOW) Tops Q4 EPS by 472c ; Provides Outlook

SilverBow Resources, Inc. (NYSE: SBOW) reported Q4 EPS of $7.12, $4.72 better than the analyst estimate of $2.40. Revenue for the quarter came in at $212.04 million versus the consensus estimate of $227.08 million.

2024 Outlook:

In response to commodity prices, the Company lowered its previously planned capital investments in dry gas-focused areas by approximately $75 million, resulting in a revised 2024 capital program budget of $470 - $510 million
At current commodity prices, the Company expects to generate $125 - $150 million of estimated FCF, which is currently earmarked for significant debt reduction
The Company is maintaining planned investment in oil and liquids projects while keeping oil and liquids production guidance at previously announced levels. Revised capital investments reduce expected natural gas volumes by 13%
Production is expected to increase approximately 50% year-over-year to 85.2 - 93.5 MBoe/d, post-recent acquisition, oil production is expected to increase 70% year-over-year and comprise 25% - 30% of 2024 production mix

For earnings history and earnings-related data on SilverBow Resources, Inc. (SBOW) click here.

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