Investor Presentaiton
Adjusted EBITDA Reconciliation Continued
Matador Resources Company, Consolidated
The following table presents our calculation of Adjusted EBITDA and reconciliation of Adjusted EBITDA to the GAAP financial measures of
net income (loss) and net cash provided by operating activities, respectively.
(In thousands)
Unaudited Adjusted EBITDA reconciliation to Net (Loss) Income:
Net (loss) income attributable to Matador Resources Company shareholders
Net (loss) income attributable to non-controlling interest in subsidiaries
Net (loss) income
Interest expense
Total income tax (benefit) provision
Depletion, depreciation and amortization
Accretion of asset retirement obligations
Full-cost ceiling impairment
Unrealized loss (gain) on derivatives
Stock-based compensation expense
Net (gain) loss on asset sales and impairment
Prepayment premium on extinguishment of debt
Consolidated Adjusted EBITDA
Adjusted EBITDA attributable to non-controlling interest in subsidiaries
Adjusted EBITDA attributable to Matador Resources Company shareholder
(In thousands)
Unaudited Adjusted EBITDA reconciliation to
Net Cash Provided by Operating Activities:
Net cash provided by operating activities
Net change in operating assets and liabilities
1Q 2019
2Q 2019
3Q 2019
4Q 2019
1Q 2020
2Q 2020
3Q 2020
$ (16,947)
7,462
$ 36,752
8,320
$ 43,953
$ 24,019
9,800
9,623
(9,485)
45,072
53,753
33,642
$ 125,729
9,354
135,083
$ (353,416)
7,473
(345,943)
$ (276,064)
9,957
(266,107)
17,929
18,068
18,175
19,701
19,812
(1,013)
12,858
13,490
10,197
39,957
18,297
(109,823)
18,231
26,497
76,866
80,132
92,498
101,043
90,707
93,350
88,025
414
420
520
468
476
495
478
324,001
251,163
45,719
4,587
(6,157)
4,490
368
(9,847)
4,664
439
24,012
4,765
160
(136,430)
132,668
13,033
3,794
3,286
3,369
2,632
135,017
(10,178)
155,251
(11,147)
173,692
(12,903)
193,988
(12,964)
153,399
(12,823)
$ 124,839
$ 144,104
$ 160,789
$ 181,024
$ 140,576
$ 107,594
118,963
(11,369)
$ 120,988
134,689
(13,701)
1Q 2019
2Q 2019
3Q 2019
4Q 2019
1Q 2020
2Q 2020
3Q 2020
$ 59,240
$ 135,257
Interest expense, net of non-cash portion
58,491
17,286
2,472
17,522
$158,630
(2,488)
17,550
Current income tax (benefit) provision
Adjusted EBITDA attributable to non-controlling interest in subsidiaries
(10,178)
(11,147)
(12,903)
Adjusted EBITDA attributable to Matador Resources Company shareholder
$ 124,839
$ 144,104
$ 160,789
$ 198,915
(23,958)
19,031
$ 109,372
24,899
19,128
$ 101,013
368
17,582
(12,964)
$ 181,024
(12,823)
$ 140,576
(11,369)
$ 109,574
7,599
17,516
(13,701)
$ 107,594
$ 120,988
Matador 54
RESOURCES COMPANYView entire presentation