Quarterly ResultAug 3, 2026, 04:24 PM
Gulfport Energy Q2 Net Income $87.1M; Expands Acreage, CFO Resigns
AI Summary
Gulfport Energy reported strong financial results for the second quarter of 2026, with net income of $87.1 million and adjusted EBITDA of $179.1 million. The company also generated $6.4 million in adjusted free cash flow and repurchased $70.0 million of common stock. Strategically, Gulfport expanded its core Utica inventory by 4,700 net acres and announced a new $140 million discretionary acreage acquisition program. Additionally, the company's CFO, Michael Hodges, will resign effective August 5, 2026.
Key Highlights
- Reported net income of $87.1 million for Q2 2026.
- Generated $179.1 million in adjusted EBITDA for Q2 2026.
- Achieved $6.4 million of adjusted free cash flow in Q2 2026.
- Produced approximately 962.8 MMcfe per day during Q2 2026.
- Repurchased $70.0 million of common stock in Q2 2026.
- Expanded core Utica inventory by 4,700 net acres, adding 16 wet gas locations.
- Announced a new $140 million discretionary acreage acquisition program for H2 2026.
- Updated full-year base capital expenditure guidance to approximately $430 million.
- CFO Michael Hodges will resign effective August 5, 2026.
Price Impact
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