Cabot Oil & Gas Corporation (COG) Q2 2021 Earnings Call Transcript

·33-min read
Cabot Oil & Gas Corporation (COG) Q2 2021 Earnings Call Transcript

Adjusted net income for the quarter was $105 million or $0.26 per share which represents over a five-fold increase in adjusted earnings per share relative to the prior year period, driven primarily by 35% increase in our realized natural gas prices. During the quarter, we also delivered positive free cash flow of $64 million, our 18th quarter of positive free cash flow over the last 21 quarters resulting in a $127 million improvement in free cash flow relative to the second quarter of 2020. During the second quarter we returned over two-thirds of our free cash flow to shareholders through our base quarterly dividend as we continue to emphasize our strategic focus on returning a majority of our free cash flow to shareholders.

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