Expand Energy Corporation EXE reported first-quarter 2025 adjusted earnings per share of $2.02, which beat the Zacks Consensus Estimate of $1.85. The company’s bottom line also outperformed the year-ago adjusted profit of 56 cents, fueled by strong production and higher sales price realization.

Expand Energy’s ‘natural gas, oil and NGL’ revenues of $2.3 billion beat the Zacks Consensus Estimate of $2.2 billion and was significantly higher than the year-ago figure of $589 million.

Expand Energy Corporation Price, Consensus and EPS Surprise

Expand Energy Corporation price-consensus-eps-surprise-chart | Expand Energy Corporation Quote

EXE’s Production & Price Realizations

The company reported the average first-quarter daily production (comprising 92% natural gas) of 6,788 million cubic feet of gas equivalent (MMcfe/day), which jumped 112% from the year-ago level of 3,198 MMcfe/day. The daily production levels also surpassed the Zacks Consensus Estimate of 6,774 MMcfe/day. Natural gas volume for the period came in at 6,254 MMcf/day, up 95.6% year over year. The consensus mark called for 6,212 MMcf/day of natural gas. EXE’s oil production was 14 thousand barrels per day (MBbl/d), while NGL output totaled 75 MBbl/d.

The average sales price for natural gas during the first quarter was $3.58 per Mcf, up 76% from the prior-year realization of $2.03 per Mcf and also above the consensus mark of $3.36. The average realized oil price was $63.40 per barrel compared with the consensus mark of $61. Meanwhile, the average realized NGL price was $30.54 per barrel, compared favorably with the Zacks Consensus Estimate of$27.48.

(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)

EXE’s Costs & Expenses

Total operating expenses in the quarter rose to $2.5 billion from the year-ago quarter’s $1 billion. This was mainly due to an increase in gathering, processing and transportation costs, which were up nearly threefold year over year to $563 million. The company’s marketing cost also rose significantly by 184% from the year-ago level to $919 million. Furthermore, Expand Energy’s depreciation outlay increased by 78% from the first quarter of 2024.

Financial Position

Cash flow from operations almost doubled from the prior-year quarter to $1.1 billion, while Expand Energy’s capital expenditure totaled $563 million, leading to a free cash flow of $533 million. It also paid out $142 million in dividends during the period.

As of March 31, 2025, the company had $349 million in cash and cash equivalents. Expand Energy had a long-term debt of $5.2 billion, reflecting a debt-to-capitalization of 23.4%.

Expand Energy’s Guidance for Q2 & 2025

Expand Energy is targeting an average daily production in the range of 7,100-7,200 MMcfe for the second quarter and 7,000-7,200 MMcfe for full-year 2025. The company has budgeted its capital spending between $725 million and $800 million for the upcoming quarter, while for 2025, the figure is between $2.9 billion and $3.1 billion.

Expand Energy currently flaunts a Zacks Rank #1 (Strong Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Important Earnings at a Glance

While we have discussed EXE’s first-quarter results in detail, let us take a look at three other key reports.

Oil and gas equipment and services provider TechnipFMC plc FTI reported first-quarter 2025 adjusted earnings of 33 cents per share, which missed the Zacks Consensus Estimate of 36 cents, primarily due to a 4.8% year-over-year increase in costs and expenses. However, the bottom line increased from the year-ago quarter’s reported profit of 22 cents, driven by improved performance in the Subsea segment.

The company’s revenues of $2.2 billion missed the Zacks Consensus Estimate by 1.1%. However, the top line increased from the year-ago quarter’s reported figure of $2 billion.

As of March 31, FTI had cash and cash equivalents worth $1.2 billion and long-term debt of $410.8 million, with a debt-to-capitalization of 11.8%.

Another oil and gas equipment and services provider, Core Laboratories Inc. CLB, reported first-quarter 2025 adjusted earnings of 8 cents per share, which missed the Zacks Consensus Estimate of 15 cents. The bottom line also underperformed the year-ago quarter’s reported figure of 13 cents. This can be attributed to the underperformance of the Reservoir Description segment.

The company reported operating revenues of $124 million, in line with the Zacks Consensus Estimate. However, the top line decreased 4.6% from the year-ago quarter’s $130 million. This can be attributed to the recent imposition of sanctions and operational inefficiencies.

As of March 31, 2025, the company had cash and cash equivalents of $22.1 million and long-term debt of $124.4 million. CLB’s debt-to-capitalization was 32.4%.

Houston, TX-based oil and gas equipment and services provider Baker Hughes BKR reported first-quarter 2025 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 47 cents. The bottom line also improved from the year-ago level of 43 cents.

As of March 31, 2025, Baker had cash and cash equivalents of $3,277 million. Baker had a long-term debt of $5,969 million at the end of the reported quarter, with a debt-to-capitalization of 25.9%.

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