Chesapeake Energy Non-GAAP EPS of $4.22 beats by $1.32
- Chesapeake Energy press release (NASDAQ:CHK): Q4 Non-GAAP EPS of $4.22 beats by $1.32.
- Adjusted EBITDAX(1) of $1,032 million; free cash flow(1) of $526 million; adjusted free cash flow(1) of $273 million, inclusive of the effect of asset sales
- Quarterly dividend of $1.29 per common share to be paid in March 2023; repurchased approximately 4.1 million shares for approximately $406 million
- Produced approximately 4.05 bcfe/d net (90% natural gas)
- 2023 Outlook: Optimized capital allocation with reduced activity levels; production expected to modestly decline year-over-year; remain LNG ready
- Total expected capital expenditures of $1.765 – $1.835 billion
- Equity investment in Momentum Midstream $285 – $315 million for the year; project remains on budget and schedule
- Lowered interim targets to less than 3.0 mt CO2e/boe GHG intensity and 0.02% methane intensity by 2025.