Geopark (GPRK) came out with quarterly earnings of $0.48 per share, missing the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -18.64%. A quarter ago, it was expected that this oil and gas company would post earnings of $0.78 per share when it actually produced earnings of $0.48, delivering a surprise of -38.46%.Over the last four quarters, the co ...

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Financial Data and Key Metrics Changes - Revenue increased by 14% compared to the first quarter, reaching $190 million, driven by higher oil prices [4] - Adjusted EBITDA rose 15% to $128 million, resulting in an EBITDA margin of 67% [4] - Net profit was $25.7 million, equivalent to $0.50 per share, impacted by non-cost charges related to the devaluation of the Colombian peso [4] - The return on average capital employed over the last 12 months was 38% [4] - The company ended the quarter with a cash position of $66 million after various financial activities [5] Business Line Data and Key Metrics Changes - Consolidated production is currently 5,000 to 5,500 barrels a day higher than reported due to recent acquisitions [7] - The Mata Mora Norte Block produced an average of 12,500 barrels a day gross in the second quarter [7] - The company expects to drill three to five new wells before the end of the year in the Llanos basin blocks [6] Market Data and Key Metrics Changes - The average production in Argentina was 2,500 barrels per day, with expectations for gradual increases [29] - The company anticipates finishing the year with production between 13,000 and 14,000 barrels equivalent per day [10][32] Company Strategy and Development Direction - The company is focused on strategic growth initiatives, disciplined financial management, and sustainability as key performance drivers [9] - Inorganic opportunities are a key component of the company's strategy, focusing on assets that provide immediate production capabilities [13][15] - The company is targeting acquisitions in Colombia, Argentina, and Brazil to enhance long-term sustainability [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about production increases in Argentina and the performance of new wells in Vaca Muerta [10][12] - The company is addressing operational challenges, including social unrest affecting production [26] - Future tax obligations are expected to be influenced by oil price environments, with a projected effective tax rate around 40% for the year [33][34] Other Important Information - The company repurchased $43.7 million worth of shares and paid $7.5 million in dividends during the quarter [5] - A new oil prepayment agreement was established, providing additional liquidity and a lower discount for CPO-5 production [36] Q&A Session Summary Question: What is the expected production progress in Argentina for the second half of the year and 2025? - Management expects a gradual increase in production, aiming for 20,000 barrels per day net by the end of 2025 [10] Question: Is the company targeting new acquisitions in the region? - The company is actively pursuing inorganic opportunities, focusing on assets that provide immediate production capabilities and long-term sustainability [13][15] Question: What is the current production in Colombia and the expected cash tax for the second half of the year? - Current production in Colombia is around 28,000 barrels per day, with expected cash tax outflows of approximately $20 million to $25 million for the remainder of the year [20][33] Question: Can you provide details on the new prepayment agreement and its implications? - The prepayment agreement with Trafigura covers a 12-month duration and aims to capture a premium for lighter crudes, enhancing financial flexibility [36][37]

Earnings Performance - Geopark reported quarterly earnings of $0.48 per share, missing the Zacks Consensus Estimate of $0.78 per share, and down from $0.59 per share a year ago, representing an earnings surprise of -38.46% [1] - The company posted revenues of $190.2 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.08%, compared to year-ago revenues of $182.33 million [2] Stock Performance and Outlook - Geopark shares have increased by approximately 9.7% since the beginning of the year, while the S&P 500 has gained 13.9% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] Estimate Revisions and Industry Context - The trend for estimate revisions for Geopark is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $0.77 on revenues of $175.94 million, and for the current fiscal year, it is $3.18 on revenues of $744.86 million [7] - The Oil and Gas - Exploration and Production - United States industry is in the bottom 32% of Zacks industries, suggesting that the outlook for the industry can significantly impact stock performance [8]

Core Viewpoint - GeoPark Limited (GPRK) is expected to report second-quarter 2024 earnings on August 14, with previous earnings missing estimates and a negative surprise average of 16.57% over the last four quarters [1][6]. Estimate Trend - The Zacks Consensus Estimate for second-quarter earnings per share is 78 cents, reflecting a 32.2% improvement from the same quarter last year [2]. - The estimated revenue for the second quarter is $182.7 million, indicating a slight increase of 0.2% year-over-year [2]. Factors to Consider - The average spot prices for West Texas Intermediate crude were $85.35 in April, $80.02 in May, and $79.77 in June, while Europe Brent crude prices were $89.94, $81.75, and $82.25 respectively, suggesting a favorable pricing environment for exploration and production activities [3]. - Despite favorable pricing, international drilling activities declined, with Baker Hughes reporting a rig count of 963 in the second quarter, down from the previous quarter [4]. - The decrease in drilling activities indicates that companies like GeoPark likely reduced spending on upstream activities, leading to a production decline of 3% year-over-year, totaling 35,608 barrels of oil equivalent per day [5]. Earnings Whispers - The current model does not indicate an earnings beat for GeoPark, with an Earnings ESP of 0.00% and a Zacks Rank of 4 (Sell) [6].

Geopark (GPRK) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may ...

i 1 t i Funtay Thesis Recap I covered GeoPark Limited (NYSE:GPRK) in April 2024, with the overall thesis that the company sports high margins and strong growth potential. I like this Latin American oil producer for its cheap valuation and nice dividend as well, highlighting it as a potential income play for investors. Since then, I remain bullish and view the recent sell-off in the stock as another buying opportunity. The company has made many value-adding acquisitions since my last report, and I view manag ...

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks. One stock to keep an eye on is Geopark (GPRK) . GPRK is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. Finally, investors will want to recognize that GPRK has a P/CF ratio of 2.47. This metric takes into account ...

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