Diversified Energy 'off to a great start' as quarterly earnings rise
Diversified Energy Co PLC on Monday reported increased first-quarter revenue and adjusted Ebitda, and said it is on track for the full year.
Shares in Diversified Energy were 5.4% higher at 1,042.00 pence in London on Monday morning.
The Birmingham, Alabama-based gas and oil production company said total revenue rose 79% to $346.9 million from $193.6 million the previous year.
Adjusted earnings before interest, tax, depreciation and amortisation increased 35% to $138.2 million from $102.1 million, while the adjusted Ebitda margin was unchanged at 47%. (Adjusted Ebitda allows for non-comparable items like finance costs, the accretion of asset retirement obligations, and costs from acquisitions.)
Diversified Energy also declared a dividend of 29 US cents per share for the quarter, unchanged on-year.
Looking ahead, the company reiterated its full-year guidance, which incorporates a nine-month contribution from assets gained through its acquisition of Maverick Natural Resources in March.
The outlook includes $825 to $875 million in adjusted Ebitda, Diversified Energy said.
‘Diversified is off to a great start in 2025, demonstrating the resilience of our business model in an otherwise volatile business environment while advancing our long-term strategy with the transformational acquisition of Maverick Natural Resources,’ Chief Executive Officer Rusty Hutson. ‘Despite the broader macroeconomic and geopolitical challenges, we delivered solid operational results and continued growth in free cash flow.’
He continued: ‘Despite the current uncertain environment, the Diversified team...continues to perform at a high level. Diversified has a proven track record of managing through challenging markets.
‘I am confident that with our highly strategic initiatives, we will capitalise on opportunities and emerge from the current market as an even stronger company, ensuring continued growth and success.’
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