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Enerplus Non-GAAP EPS of $2.26, revenue of $1.7B; initiates FY24 outlook
- Enerplus press release (NYSE:ERF): FY Non-GAAP EPS of $2.26.
- Revenue of $1.7B (-21.3% Y/Y).
- Exceeded 2023 total and liquids production guidance:
- Total production averaged 100,015 BOE per day (guidance of 98,000 to 99,000 BOE per day).
- Liquids production averaged 62,208 barrels per day (guidance of 60,500 to 61,500 barrels per day).
- Generated adjusted funds flow of $961.2 million in 2023, which exceeded capital spending of $532.5 million, generating free cash flow of $428.7 million.
- Outlook: Enerplus expects 2024 capital spending of approximately $550 million and annual average liquids production of approximately 64,000 barrels per day. The Company expects 2024 annual average total production of approximately 99,000 BOE per day. The company’s 2024 outlook is subject to changes as a result of completion of the transaction with Chord, which is currently expected to close mid-2024.
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