Fourth Quarter (4Q) Update
Cimarex Reports Fourth Quarter and Full Year 2019 Results
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Cimarex Energy Co. (NYSE: XEC) today reported a net loss for fourth quarter 2019 of $384.1 million, or $3.87 per share, compared to net income of $316.2 million, or $3.32 per share, in the same period a year ago. For the full year, Cimarex reported a net loss of $124.6 million, or $1.33 per share, compared to 2018 net income of $791.9 million, or $8.32 per share.
Both fourth quarter and full year results were negatively impacted by a non-cash charge related to the impairment of oil and gas properties. Fourth quarter 2019 adjusted net income (non-GAAP) was $120.4 million, or $1.18 per share, compared to adjusted net income (non-GAAP) of $192.1 million, or $2.01 per share in the same period a year ago1. Full year 2019 adjusted net income (non-GAAP) was $448.8 million, or $4.46 per…
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