Short answer
Coterra (CTRA) filed its fiscal 2024 10-K annual report with the SEC on Feb 25, 2025. It reported revenue of $5.5B (−3.9% year over year) and net income of $1.1B.
- Top risk flagged: Regulatory risk: potential delays/restrictions from renewable energy and emissions laws amid climate change focus impacting permitting and project development
FY2024 key financial metrics · XBRL
- Revenue
- $5.5B
- −3.9% YoY
- Net income
- $1.1B
- −31.0% YoY
- Operating margin
- 25.4%
- −12.5 pp YoY
- EPS (diluted)
- $1.50
- −29.6% YoY
- ROE
- 8.5%
- −3.9 pp YoY
- Operating cash flow
- $2.8B
- −23.6% YoY
Source: XBRL data from the Coterra (CTRA) FY2024 10-K on SEC EDGAR. USD.
Coterra FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Exploration, development, and production of oil and natural gas resources
- New acquisitions: Membership Interest Purchase Agreement with Franklin Mountain Energy Holdings effective November 12, 2024
- Strategic financing: Issued multiple senior notes including 5.60% due 2034 and 5.40%-5.90% due 2035 and 2055
- Equity incentives: Introduced 2023 Equity Incentive Plan for executives and non-employee directors
- Noteworthy filing fact: Extensive incorporation by reference to Proxy Statement and prior reports; no standalone Business section details provided
Management Discussion & Analysis
- Derivative usage includes collars, swaps, basis swaps to manage commodity price risk
- Derivatives limit upside benefits of commodity price increases, introduce financial loss risks
- Risks include adverse price differential changes, lower production, counterparty default
- Regulatory changes and reduced derivatives market liquidity may increase derivative costs and exposure
- Potential for greater earnings volatility and less predictable cash flow if swap use declines
Risk Factors
- Regulatory risk: potential delays/restrictions from renewable energy and emissions laws amid climate change focus impacting permitting and project development
- Geopolitical risk: LNG export demand threatened by China’s recently announced retaliatory LNG tariffs in 2025
- Operational vulnerability: natural gas production curtailed by 232 MMcf per day Aug-Nov 2024 due to low prices and pipeline constraints
- Competitive risk: increased Permian Basin capital spending post $4.0B FME and Avant acquisitions closed Jan 2025 to maintain market position
- Financial risk: total debt rose to $3.54B (21% of capitalization) at Dec 31, 2024 after issuance of $2.0B senior notes and $1.0B term loan for acquisitions
Generated from the filing text; verify against the original. How to read a 10-K
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