Concho Resources Inc. Reports First-Quarter 2020 Results; Updates 2020 Outlook
CONCHO RESOURCES (CXO)
Last concho resources earnings: 4/30 04:02 pm
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US:NYSE Investor Relations:
ir.concho.com/investors/events-and-presentations/default.aspx
Company Research
Source: Business Wire
Delivers Strong Results for First-Quarter 2020Further Reducing 2020 Capital Plans, Reinforcing Strong Financial Position MIDLAND, Texas--(BUSINESS WIRE)--Concho Resources Inc. (NYSE: CXO) today reported financial and operating results for first-quarter 2020.First-Quarter 2020 HighlightsDelivered oil production volumes of 209 MBopd, exceeding the high end of the Company’s guidance range.Generated cash flow from operating activities of $836 million. Operating cash flow before working capital changes (non-GAAP) was $744 million, exceeding capital expenditures of $556 million and resulting in $188 million of free cash flow (non-GAAP).Included in the Company’s first-quarter 2020 results are $12.6 billion in impairment charges related to the substantial weakness in commodity prices. As such, the Company reported a net loss of $9.3 billion, or $47.49 per share.Adjusted net income (non-GAAP) totaled $142 million, or $0.72 per share.Generated $784 million of adjusted EBITDAX (non-GAAP).Retu
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