Stock Analysis on Net
Stock Analysis on Net

Expand Energy Corp. (NASDAQ:EXE)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 29, 2025.

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Expand Energy Corp., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Natural gas, oil and NGL
Marketing
Revenues
Natural gas, oil and NGL derivatives
Gains on sales of assets
Revenues and other
Production
Gathering, processing and transportation
Severance and ad valorem taxes
Exploration
Marketing
General and administrative
Separation and other termination costs
Depreciation, depletion and amortization
Impairments
Other operating expense, net
Operating expenses
Income (loss) from operations
Interest expense
Losses on purchases, exchanges or extinguishments of debt
Other income, net
Reorganization items, net
Other income (expense)
Income (loss) before income taxes
Income tax (expense) benefit
Net income (loss)
Deemed dividend on warrants
Net income (loss) available to common stockholders

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

Revenue Trends
Revenue experienced significant growth from 2021 to 2022, more than doubling from $7.3 billion to $14.1 billion. However, revenues sharply declined from 2022 onwards, falling to $6.0 billion in 2023 and further down to $4.3 billion in 2024. The component "Natural gas, oil and NGL" revenues follow a similar pattern with a peak in 2022 and a continual decline thereafter.
Cost and Expense Analysis
Operating expenses showed a marked increase in 2022, reaching $7.96 billion from $5.11 billion in 2021, then decreased in the following years to $5.58 billion in 2023 and $5.04 billion in 2024. Production, gathering, processing, and transportation costs also peaked in 2022 and then reduced in subsequent years, though transportation costs increased slightly again in 2024. Marketing expenses declined notably in 2023 and 2024 after a high in 2022, aligning with revenue trends.
Profitability Measures
Operating income surged to $3.78 billion in 2022, up from $704 million in 2021, yet it declined to $3.14 billion in 2023 and swung into negative territory with a loss of $803 million in 2024. Consequently, net income mirrored this pattern, peaking at $4.94 billion in 2022 before declining dramatically to a loss of $714 million in 2024.
Other Income and Expenses
Gains on sales of assets increased significantly in 2023 to $946 million before dropping back to $14 million in 2024. The derivative positions in natural gas, oil, and NGL showed considerable volatility—large negative amounts in 2021 and 2022, a gain in 2023, and a slight loss in 2024—indicating fluctuating hedging or speculative activities. Interest expense increased from 2021 to 2022 then decreased in 2023 with a slight rise again in 2024. Other income, net, showed a stable upward trend over the four years.
Taxation and Net Income Available to Shareholders
Income tax expense displayed volatility, with a benefit recorded in 2021 and 2024, but a significant tax expense in 2023. The net income available to common stockholders peaked in 2021 at $6.33 billion, declined in 2022 and 2023, and reverted to a loss of $714 million in 2024, highlighting deteriorating overall profitability during the latter years of the period.
Depreciation and Amortization
Depreciation, depletion, and amortization expenses rose sharply in 2022, then decreased slightly in 2023 before rising again in 2024, suggesting ongoing capital investment and asset base utilization.
General Expense Trends
General and administrative costs showed a relatively stable trend with a moderate increase in 2024. Exploration expenses were low and fairly steady across the years, indicating limited investment in exploration activities relative to other cost categories.
Summary
The company experienced a strong revenue and profit peak in 2022, followed by notable declines in the following years. Operating and other expenses generally trended in line with revenues, though some variability suggests attempts to manage costs amid fluctuating market conditions. The loss in 2024 indicates challenging operational or market environments impacting overall financial performance.