EARTHSTONE ENERGY INC (ESTE) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Natural gas							5.0	5.5
Natural gas liquids							2.9	2.2
Other							34.4	39.8
Total revenues [+]	1,695.2	419.6	144.5	191.3	165.4	108.1	42.3	47.5
Oil & gas							7.9	7.6
Revenue growth [+]	304.0%	190.4%	-24.4%	15.7%	53.0%	155.7%	-10.9%	-0.3%
Natural gas							-7.5%	-41.7%
Natural gas liquids							32.8%	-38.5%
Cost of goods sold [+]	123.1	26.4	9.4	11.9	9.8	6.1	17.3	18.0
Lease costs							15.1	15.4
Direct taxes							2.2	2.6
Gross profit	1,572.1	393.2	135.1	179.4	155.5	102.0	25.0	29.5
Gross margin	92.7%	93.7%	93.5%	93.8%	94.1%	94.4%	59.2%	62.1%
Selling, general and administrative [+]	74.2	41.9	28.2	27.6	27.3	27.1	9.4	9.7
General and administrative	74.2	41.9	28.2	27.6	27.3	27.1	9.4	9.7
Other operating expenses [+]	221.8	50.0	30.0	26.3	17.6	11.0	8.9	-0.9
Exploration expenses	2.5	0.3	0.3	0.7	0.6	0.0	0.0	0.1
EBITDA [+]	1,276.2	301.3	76.9	125.5	110.5	64.0	6.7	20.7
EBITDA growth	323.5%	291.7%	-38.7%	13.5%	72.8%	857.2%	-67.7%	133.3%
EBITDA margin	75.3%	71.8%	53.2%	65.6%	66.9%	59.2%	15.8%	43.6%
Depreciation and amortization	301.8	106.4	96.4	69.2	47.6	36.9	25.9	31.2
EBIT [+]	974.4	195.0	-19.5	56.2	63.0	27.0	-19.3	-10.6
EBIT growth	399.8%	-1100.1%	-134.7%	-10.8%	132.8%	-240.5%	82.4%	10.5%
EBIT margin	57.5%	46.5%	-13.5%	29.4%	38.1%	25.0%	-45.6%	-22.2%
Non-recurring items [+]	8.2	4.9	65.1	1.1	18.9	76.9	26.8	138.7
Asset impairment			64.5		4.6	72.2	24.3	138.1
Interest expense	66.8	10.8	5.2	6.6	2.9	2.7	1.3	0.7
Interest expense	66.8	10.8	5.2	6.6	2.9	2.7	1.3	0.7
Other income (expense), net [+]	-124.3	-115.9	60.3	-45.3	56.5	-8.5	-6.7	6.9
Litigation settlement					-4.7
Gain (loss) on derivative instruments	-125.1	-116.8	59.9	-44.0	60.9	-8.0	-6.6	6.4
Write-off of deferred debt issuance costs				-1.2		-0.5
Other	0.9	0.8	0.4	-0.1	0.2	0.0	-0.1	0.4
Pre-tax income	775.0	63.4	-29.5	3.2	97.7	-61.1	-54.0	-143.1
Income taxes	124.4	1.9	-0.1	1.7	2.5	-16.4	0.5	-26.4
Tax rate	16.1%	2.9%	0.4%	51.3%	2.5%	26.8%		18.5%
Minority interest	198.1	26.0	-15.9	0.9	52.9	-32.2
Net income	452.5	35.5	-13.5	0.7	42.3	-12.5	-54.5	-116.7
Net margin	26.7%	8.5%	-9.4%	0.4%	25.6%	-11.6%	-129.0%	-245.8%

Basic EPS [+]	$5.12	$0.75	($0.45)	$0.02	$1.50	($0.53)	($2.92)	($8.43)
Growth	580.8%	-266.1%	-1925.7%	-98.3%	-383.4%	-81.9%	-65.3%	171.4%
Diluted EPS [+]	$4.70	$0.71	($0.45)	$0.02	$1.50	($0.53)	($2.92)	($8.43)
Growth	561.3%	-256.8%	-1949.5%	-98.4%	-382.8%	-81.9%	-65.3%	171.4%

Shares outstanding (basic) [+]	88.3	47.2	29.9	29.0	28.2	23.6	18.7	13.8
Growth	87.3%	57.7%	3.2%	2.9%	19.3%	26.5%	34.8%	49.1%
Shares outstanding (diluted) [+]	96.3	50.0	29.9	29.4	28.2	23.6	18.7	13.8
Growth	92.8%	67.0%	1.9%	4.1%	19.6%	26.5%	34.8%	49.1%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.