Business Context and Reporting Period
This Form 8-K is filed by Halcón Resources Corporation (not Battalion Oil Corp) on May 5, 2015. The report serves to announce the issuance of a press release regarding the Company's financial results for the first quarter of 2015.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references a press release (Exhibit 99.1) containing these details, including both GAAP and non-GAAP measures such as adjusted net income, earnings per share, and cash flow from operations.
Material Changes
The document does not explicitly detail material changes versus prior periods within the text provided. It notes that the referenced press release includes reconciliations between GAAP and non-GAAP measures to facilitate comparisons with prior periods.
Guidance, Outlook, and Risks
Management Commentary: Management utilizes non-GAAP financial measures to help users understand the impact of selected items on reported results and to provide beneficial comparisons to prior periods.
Disclaimer: The filing explicitly states that these non-GAAP measures are not defined by GAAP, should not be considered alternatives to GAAP net income or cash flow, and may not be comparable to similar measures used by other companies.
Investor Verification Checklist
- Verify the specific Q1 2015 revenue, net income, and cash flow figures in Exhibit 99.1 (the press release).
- Review the reconciliation tables in the press release to understand the adjustments made to derive non-GAAP metrics.
- Confirm the company name is Halcón Resources Corporation, as the metadata reference to "Battalion Oil Corp" appears to be incorrect based on the filing text.
- Check for any specific "selected items" excluded from the non-GAAP calculations to assess the quality of earnings.