Jagged Peak Energy Q2 reported revenue jumps from $53.1 million to $158.7 millionStaff Writer | August 10, 2018
Jagged Peak Energy announced financial and operating results for the second quarter ended June 30, 2018.
Jagged Peak Energy Adjusted net income was $43.3 million
The increase in revenue in the second quarter of 2018 compared to the same period in 2017 was a result of increased production volumes and commodity prices for the period.
For the second quarter of 2018, the company reported net income of $45.1 million, or $0.21 per diluted common share. Net income for the second quarter of 2017 was $16.4 million, or $0.08 per diluted common share.
Adjusted net income (a non-GAAP measure) for the second quarter of 2018, was $43.3 million or $0.20 per diluted common share, compared to $9.9 million, or $0.05 per diluted common share for the same period in 2017.
Adjusted net income, (a non-GAAP measure) eliminates certain non-cash and non-recurring items such as certain equity-based compensation, non-cash mark-to-market gains or losses on derivatives and impairment expense, further adjusted for any associated changes in estimated income tax expense.
Adjusted EBITDAX, (a non-GAAP measure) for the second quarter of 2018 was $118.6 million, an increase of $79.3 million from the second quarter of 2017 and $33.1 million from the first quarter of 2018. ■