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OKLAHOMA CITY - Expand Energy Corporation (NASDAQ:EXE) reported fourth quarter earnings that surpassed analyst expectations, while also raising its synergy target for 2025. The company’s stock showed no significant movement following the announcement.
The largest U.S. natural gas producer posted adjusted earnings per share of $0.55 for the fourth quarter, beating the analyst estimate of $0.43. Revenue came in at $2 billion, above the consensus estimate of $1.85 billion.
Expand Energy produced approximately 6.41 billion cubic feet equivalent (Bcfe) per day in the fourth quarter, with natural gas accounting for 91% of production. The company operated an average of twelve rigs, drilling 44 wells and bringing 41 wells online during the period.
For 2025, Expand Energy increased its expected annual synergy target by $175 million to approximately $400 million. The company now aims to achieve $500 million in annual synergies by the end of 2026.
"Our strong fourth quarter results and 2025 outlook clearly demonstrate, as the nation’s largest gas producer, we are ready to answer the call and expand opportunity for consumers and investors alike," said Nick Dell (NYSE:DELL)’Osso, Expand Energy’s President and CEO.
The company expects to produce about 7.1 Bcfe per day in 2025, investing approximately $2.7 billion. An additional $300 million will be deployed to create 300 million cubic feet equivalent per day of productive capacity for 2026.
Expand Energy also announced a quarterly base dividend of $0.575 per common share, marking its 16th consecutive quarter of dividend payments.
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