Business Context and Reporting Period
This Form 8-K is a current report filed by Halcón Resources Corporation (not Battalion Oil Corp as indicated in metadata) on July 30, 2014. The filing serves to announce the Company's financial results for the second quarter of 2014. The report references a press release furnished as Exhibit 99.1 containing the detailed financial data.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It explicitly states that these figures, including both GAAP and non-GAAP measures (such as adjusted net income and earnings per share), are contained within the press release attached as Exhibit 99.1.
Material Changes
The document does not detail specific material changes or comparative figures versus prior periods. It notes that management presents non-GAAP measures to facilitate comparison with prior periods, but the actual data points are not included in the body of this 8-K filing.
Guidance, Outlook, and Risks
Non-GAAP Measures: The filing highlights the use of non-GAAP financial measures, including net income and earnings per share excluding selected items, adjusted cash flow from operations, and adjusted general and administrative expenses. Management asserts these measures help users understand the impact of specific items on reported results.
Limitations: The Company cautions that these non-GAAP measures are not substitutes for GAAP measures and may not be comparable to similarly named measures used by other companies. The press release includes reconciliations between GAAP and non-GAAP figures.
Investor Verification Checklist
- Verify the specific Q2 2014 revenue, net income, and earnings per share 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's name is Halcón Resources Corporation, noting the discrepancy with the "Battalion Oil Corp" metadata.
- Check for any specific "selected items" excluded from the non-GAAP calculations to assess the quality of earnings.