Gulfport Energy reports $14.0 million Q3 net loss; buyback expanded to $1.0 billion
Gulfport Energy reported a third-quarter 2024 net loss of $14.0 million, compared with net income of $608.4 million a year earlier, and revenue of $253.9 million, down from $266.7 million. The company expanded its common stock repurchase authorization by 54% to $1.0 billion and lowered its full-year 2024 drilling and completion capital guidance, which matters to shareholders because it changes how cash flow is allocated.
Key points
- Net loss of $14.0 million in the quarter, versus net income of $608.4 million in the third quarter of 2023, which included a $554.7 million deferred tax benefit.
- Total revenues of $253.9 million, down from $266.7 million; diluted loss of $0.83 per share, versus diluted earnings of $27.37 per share a year earlier.
- Adjusted EBITDA of $178.1 million and adjusted free cash flow of $72.6 million, which the company said were above analyst consensus expectations.
- Repurchase authorization raised 54% to $1.0 billion through December 31, 2025, with about $481.3 million of remaining capacity; 2024 drilling and completion capital guidance cut to $325 million to $335 million.
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 November 05, 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.