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![GULFPORT ENERGY CORP [GPORQ] reports annual net loss of $251.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FGPORQ.png&w=1200&q=75)
GULFPORT ENERGY CORP [GPORQ] has reported a net loss of $251.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $273.0 million
Based in OKLAHOMA CITY, Oklahoma, GULFPORT ENERGY CORP operates in the MINING sector.
In the 12 months ended December 31, 2023, the company reported total revenues of $1.79 billion, representing a robust growth compared to the previous year's total revenue of $1.33 billion in the same period. The revenue from contracts with customers in natural gas sales increased from $831.81 million in the previous period to $1.99 billion in the current period.
Operating expenses for the 12 months ended December 31, 2023, amounted to $816.86 million, higher than the $787.99 million reported in the same period the previous year. Expenses such as depreciation, depletion, and amortization also showed an increase from $267.76 million to $319.71 million.
The net income for the 12 months ended December 31, 2023, reached $1.47 billion, a significant improvement compared to the previous year's net loss of $494.70 million. This positive trend is also reflected in the earnings per share, with the basic EPS increasing from $20.45 to $67.24 and the diluted EPS rising from $20.32 to $66.46.
Overall, the company demonstrated strong financial performance in the current reporting period, with a notable increase in revenues, improved net income, and higher earnings per share figures compared to the same period in the previous year.