Gulfport Energy Q3 net income $608.4 million; raises 2023 production guidance
Gulfport Energy reported third quarter 2023 net income of $608.4 million, compared with a net loss of $18.5 million a year earlier, and total revenues of $266.7 million versus $191.1 million. The profit figure includes a $554.7 million deferred income tax benefit and a $39.4 million net gain on derivatives, compared with a $474.9 million derivative loss a year earlier. The company raised its 2023 net production guidance to 1,045-1,055 MMcfe per day, lowered its base capital expenditure guidance to $435 million-$455 million, and expanded its share repurchase authorization by 63% to $650 million.
Key points
- Q3 2023 net income $608.4 million and adjusted EBITDA $160.0 million, both above analyst consensus per the company
- Net daily production of 1,056.9 MMcfe in Q3 2023, versus 914,888 MMcfe a year earlier
- Average natural gas price without derivatives was $1.99 per Mcf, down from $7.80 in Q3 2022
- Share repurchase authorization raised to $650 million; about $315.4 million of capacity remained as of October 26, 2023
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:49 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 31, 2023.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.