NOG FY 2022 Earnings Report — Northern Oil and Gas, Inc. Revenue & Financial Results | Market Cap Arena

Northern Oil and Gas, Inc.NOG

FY 2022 Earnings

Reported February 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$2.0B	—	$975M	—	103.7%
Op. Income	$853M	—	$78M	—	994.4%
Gross Margin	66.3%	—	60.1%	—	6.1pp
Net Margin	38.9%	—	0.7%	—	38.3pp
EPS (Diluted)	$8.40	—	$-0.13	—	6561.5%
Free Cash Flow	-$431M	—	-$197M	—	-118.6%

Revenue Flow

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$670M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$415M
Operating Expenses	$462M
Cost & Expenses	$1.1B
OPERATING INCOME	$853M
Interest Income	$0
Interest Expense	$80M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$776M
Income Tax Expense	$3M
Net Income from Continuing Ops	$773M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$773M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$728M
D&A	$251M
EBIT	$857M
EBITDA	$1.1B
EPS	$9
EPS Diluted	$8

Income Statement

Item	Amount
REVENUE	$2.0B
Cost of Revenue	$670M
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$47M
SG&A Expenses	$47M
Other Expenses	$415M
Operating Expenses	$462M
Cost & Expenses	$1.1B
OPERATING INCOME	$853M
Interest Income	$0
Interest Expense	$80M
Other Income/Expenses	-$77M
INCOME BEFORE TAX	$776M
Income Tax Expense	$3M
Net Income from Continuing Ops	$773M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$773M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$728M
D&A	$251M
EBIT	$857M
EBITDA	$1.1B
EPS	$9
EPS Diluted	$8

Cash Flow Statement

Item	Amount
Net Income	$773M
Depreciation & Amortization	$251M
Stock-Based Compensation	$6M
Deferred Income Tax	-$571.0K
Other Non-Cash Items	-$39M
Change in Working Capital	-$62M
OPERATING CASH FLOW	$928M
Capital Expenditure	-$1.4B
Acquisitions (Net)	-$43M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$1.0K
NET CASH FROM INVESTING	-$1.4B
Net Debt Issuance	$722M
Common Stock Repurchased	-$55M
Common Dividends Paid	-$52M
Other Financing Activities	-$46M
NET CASH FROM FINANCING	$467M
FREE CASH FLOW	-$431M
Net Change in Cash	-$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$3M
Short-Term Investments	$0
Net Receivables	$272M
Inventory	$0
Other Current Assets	$37M
TOTAL CURRENT ASSETS	$320M
PP&E (Net)	$2.5B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$16M
Tax Assets	$0
Other Non-Current Assets	$56M
TOTAL NON-CURRENT ASSETS	$2.6B
TOTAL ASSETS	$2.9B
Account Payables	$129M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$70M
TOTAL CURRENT LIABILITIES	$345M
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$260M
TOTAL NON-CURRENT LIABILITIES	$1.8B
TOTAL LIABILITIES	$2.1B
Common Stock	$487.0K
Additional Paid-In Capital	$1.7B
Retained Earnings	-$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$745M
Minority Interest	$0
TOTAL EQUITY	$745M
TOTAL LIABILITIES & EQUITY	$2.9B
Total Debt	$1.5B
Net Debt	$1.5B