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Chesapeake Energy Financials Q1 2013

by May 28, 2013

Chesapeake Energy Financials Q1 2013
Earnings and financial results

Oil production up, prices improved

Quite complex activity, even more complicated financing structure, and lots of historical problems. CEO left on April 1, 2013. Also 211 employees were terminated under the voluntary separation program to reduce costs, and earnings were hit as a result

Chesapeake Energy – Financial statements analysis

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Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Gross profit margin from sales , Q1 2013
Sales down QoQ, margin down, voluntary termination program for the 211 employees should produce improved results over the next quarters.

Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Operating income from sales , Q1 2013
Impact the 133 million termination expenses is seen here, almost no operating income remained to report.

Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Net income overview , Q1 2013
Not much net income, situation should improve over next quarters.

Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Detailed revenues and costs , Q1 2013
A large part of the costs is the depletion estimate.

Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Balance sheet overview , Q1 2013
Long term debt increased as Chesapeake took new loans.

Chesapeake Energy financials for Q1 2013
Placeholder for chart showing: current assets details: cash, investments, accounts receivable, inventory, deferred tax, others.

Click for larger Chesapeake Energy Detailed current assets , Q1 2013
Not only hydrocarbon reserves are being depleted, cash was depleted as well.

Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Detailed long term assets , Q1 2013
Some business restructuring seen here.

Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Detailed current liabilities , Q1 2013
Decreasing current liabilities indicate possible strains related to suppliers.

Chesapeake Energy financials for Q1 2013
Placeholder for chart showing: long term liabilities: debt, taxes, others.

Click for larger Chesapeake Energy Detailed long term liabilities , Q1 2013
A lot of debt – taking and repayment activity this quarter. Long term debt increased overall.

Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Detailed equity components , Q1 2013
Equity balance increased.

Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Cash flows overview , Q1 2013
Operating cash flow stayed positive. Combined with new financing, Chesapeake was able to finance the investment cash flow.

Chesapeake Energy financials for Q1 2013
Placeholder for chart showing: operating cash flows details: net income, adjustments, accounts payable, accounts receivable, inventory.

Click for larger Chesapeake Energy Detailed operating cash flows , Q1 2013
Note non-cash adjustments make a large part of operating cash flows.

Chesapeake Energy financials for Q1 2013
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Click for larger Chesapeake Energy Detailed non-cash adjustements , Q1 2013
Non cash adjustements of operating cash flows are merely estimates and may be subjective.

Chesapeake Energy financials for Q1 2013
Placeholder for chart showing: financing cash flows details: debt, stock, dividend.

Click for larger Chesapeake Energy Detailed financing cash flows , Q1 2013
Financing cash flows details: new debt was taken, partly used to repay old debt.

Chesapeake Energy financials for Q1 2013
Placeholder for chart showing: investment cash flows details: property plant and equipment, investments, securities.

Click for larger Chesapeake Energy Detailed investment cash flows , Q1 2013
The usual investment in drilling and PP&E.
Chesapeake Energy financials Q1 2013:
Indications of operational strain.
Plenty of operational and financial restructuring efforts.

Data sources: Our an analysis is based on Chesapeake Energy quarterly and annual reports as filed to SEC EDGAR or reported by Chesapeake Energy. All data is thoroughly processed by our analysts to assure consistent and comparable figures across many quarters. In case you spot any error or inconsistency, please let us know.

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