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Expand Energy Corp (NASDAQ:EXE), a $22.5 billion energy company currently trading at $94.99, announced the departure of Executive Vice President and Chief Financial Officer Mohit Singh, effective Wednesday, following a termination without cause. According to InvestingPro analysis, the company’s shares are currently slightly undervalued, with analysts maintaining a strong buy consensus. The company stated that Singh will receive post-employment benefits in line with its Executive Severance Plan, subject to standard terms and conditions.
Brittany Raiford, 39, currently Vice President - Treasurer, has been appointed as Interim Chief Financial Officer and principal financial officer, also effective Wednesday. Raiford joined Expand Energy on October 1, 2024, as part of the company’s merger with Southwestern Energy Company. She previously held roles at Southwestern Energy from 2011 to 2023, including Director and then Vice President of Investor Relations, as well as Senior Manager of Financial Reporting and Operations Accounting. Raiford holds a B.B.A. in Accounting and an M.S. in Finance from Texas A&M University.
In connection with her appointment, Raiford will receive an annual base salary of $334,750, a monthly cash stipend of $12,000, and restricted stock units valued at $200,000 under the company’s 2021 Long Term Incentive Plan. The restricted stock units will vest in equal installments over three years, contingent on continued service.
The company reported that there are no arrangements or understandings with any other person regarding Raiford’s appointment, and she has no family relationships with directors or executive officers. Raiford has no material interest in transactions requiring disclosure under SEC regulations. Expand Energy has also entered into an indemnification agreement with Raiford, consistent with its standard executive agreements.
This information is based on a statement in the company’s filing with the Securities and Exchange Commission.
In other recent news, Expand Energy reported its Q2 2025 earnings, with revenue reaching $3.69 billion, significantly exceeding the forecast of $2.57 billion. This revenue performance marked a 43.58% surprise, showcasing the company’s strong financial quarter. However, the earnings per share (EPS) slightly missed projections, coming in at $1.10 compared to the expected $1.13. Despite this, the positive revenue figures seemed to overshadow the EPS miss. Additionally, Mizuho raised its price target for Expand Energy to $154 from $142, maintaining an Outperform rating. The firm highlighted the company’s solid operational and financial results, including volumes at the high end of guidance. Expand Energy also lowered its fiscal 2025 capital guidance by approximately $100 million while maintaining volume guidance. These developments reflect a positive outlook from analysts and a strong performance in the recent quarter.
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