Sitio Royalties Slips To Loss In Q4; Plans $200 Mln Buyback

(RTTNews) - Sitio Royalties Corp. (STR) reported late Wednesday that its fourth-quarter net loss was $91.72 million, compared to last year's profit of $4.59 million.

The results mainly reflected a $144.5 million non-cash loss on sale of assets in the Appalachian and Anadarko Basins, and lower prices.

Adjusted EBITDA was $134.91 million, compared to $93.09 million last year. Pro Forma Adjusted EBITDA was $143.61 million, compared to $169.46 million last year.

Further, the company declared fourth-quarter dividend of $0.51 per share of Class A Common Stock, an increase of approximately 4% from the third quarter.

Sitio's Board of Directors also authorized a $200 million share repurchase program, which has no expiration date and is expected to commence in early March 2024.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.