Gulfport Energy Q1 net income falls to $52.0 million; reaffirms 2024 guidance
Gulfport Energy reported first-quarter 2024 net income of $52.0 million and total revenues of $283.2 million, down from $523.1 million and $731.2 million a year earlier, when derivative gains were larger. Adjusted EBITDA of $185.7 million and adjusted free cash flow of $38.8 million beat analyst consensus, and the company reaffirmed its full-year 2024 guidance while deferring some drilling to the second half of the year.
Key points
- Net income was $52.0 million, versus $523.1 million in Q1 2023; diluted earnings per share were $2.34, versus $22.90.
- Adjusted EBITDA was $185.7 million and adjusted free cash flow was $38.8 million, both above analyst consensus.
- Full-year 2024 guidance was reaffirmed; about 65% of D&C capital expenditures are now expected in the first half of 2024.
- Gulfport repurchased about $29.5 million of common stock in Q1 2024 and has about $220.9 million of remaining repurchase capacity.
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 April 30, 2024.
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.