Summary
Expand Energy Corp. (EXE) reported a net loss of $249 million for the three months ended March 31, 2025, a significant shift from the prior year's net income of $26 million. This decline is largely attributable to substantial unrealized losses on derivative instruments totaling $977 million, which heavily impacted the reported net income. Despite the net loss, the company's operational performance showed strength, with revenues more than doubling to $2.2 billion, driven by the acquisition of Southwestern Energy and higher commodity prices. The company's balance sheet remains robust, with total assets of $27.9 billion. Liquidity is strong, with $2.8 billion available including $0.3 billion in cash and $2.5 billion in unused borrowing capacity under its Credit Facility. Management expects sufficient liquidity to meet its obligations for the next 12 months and beyond. The company has also focused on debt management, having repaid its 2025 and 2026 senior notes in early 2025.
Financial Highlights
43 data points| Revenue | $2.20B |
| Operating Expenses | $2.46B |
| Operating Income | -$268.00M |
| Net Income | -$249.00M |
| EPS (Basic) | $-1.06 |
| EPS (Diluted) | $-1.06 |
| Shares Outstanding (Basic) | 234.43M |
| Shares Outstanding (Diluted) | 234.43M |
Key Highlights
- 1Reported a net loss of $249 million for the quarter ended March 31, 2025, compared to a net income of $26 million in the prior year, primarily due to derivative losses.
- 2Revenues increased significantly to $2.2 billion from $1.1 billion in the prior year, bolstered by the Southwestern Energy merger and higher commodity prices.
- 3Total assets stood at $27.9 billion as of March 31, 2025, with total liabilities at $10.7 billion.
- 4The company has a strong liquidity position with $2.8 billion available, comprising $0.3 billion in cash and $2.5 billion in undrawn credit facility capacity.
- 5During the quarter, the company repaid $389 million in 4.95% senior notes due 2025 and redeemed $47 million in 5.50% senior notes due 2026.
- 6Capital expenditures increased to $563 million in the current quarter from $421 million in the prior year, reflecting increased drilling and completion activity post-merger.
- 7Expand Energy Corp. was added to the S&P 500 Index in March 2025, reflecting its increased scale and market presence.