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Southwestern Energy Company (SWN) investor relations material
Southwestern Energy Company Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Enhanced 2025 outlook driven by capital-efficient operations, market-connected portfolio, and strong free cash flow generation, targeting 7.1 Bcfe/d production with $2.7B capital investment and optional expansion to 7.5 Bcfe/d in 2026 with an incremental $300M investment.
Integration of Southwestern merger accelerated synergy realization, with $400M in annual synergies expected in 2025 and $500M by end of 2026.
Achieved record Q4 2024 net production of 6.41 Bcfe/d and Adjusted EBITDAX of $964M, becoming the largest domestic natural gas producer.
Completed $750M investment-grade bond issuance at a record spread, extending debt maturities and enhancing liquidity.
Enhanced capital return framework prioritizes $2.30/share base dividend, $500M annual debt reduction, and share repurchases.
Financial highlights
Q4 2024 revenues were $2.0B, with full-year revenues of $4.24B; Q4 net loss of $399M (GAAP), FY24 net loss of $714M, impacted by merger and non-cash items.
Q4 Adjusted EBITDAX was $964M; FY24 Adjusted EBITDAX $2.20B; Q4 Adjusted Free Cash Flow was $73M.
Net debt at year-end 2024 was $5.37B, with a target to fall below $4.5B by end of 2025.
Record-setting $750M bond issuance at 132 bps over 10-year Treasuries, clearing all near-term maturities through 2029.
Cash and cash equivalents at year-end were $317M.
Outlook and guidance
2025 production guidance of 7.1 Bcfe/d, with flexibility to increase to 7.5 Bcfe/d in 2026 if market conditions warrant.
Capital investment of $2.7B in 2025, with an additional $300M for productive capacity expansion.
Commitment to maintain strong balance sheet, prioritize $500M debt reduction, and return excess free cash flow to shareholders via dividends and buybacks.
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