Northern Oil and Gas Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	2,036	1,995	1,738	1,828	898.14	294.29
Other Revenue	14.36	11.68	9.23	-	0	-
Revenue	2,050	2,007	1,747	1,828	898.14	294.29
Revenue Growth (YoY)	2.50%	14.87%	-4.42%	103.49%	205.19%	-45.85%
Cost of Revenue	470.37	429.79	347.01	260.68	170.82	116.34
Gross Profit	1,580	1,577	1,400	1,567	727.32	177.95
Selling, General & Admin	59.74	49.86	36.4	47.2	30.34	18.55
Other Operating Expenses	-174.82	-52.32	-254.8	415.26	478.19	-228.14
Operating Expenses	692.87	734.65	262.42	705.04	646.36	-50.38
Operating Income	887.16	842.23	1,137	861.89	80.96	228.33
Interest Expense	-176.51	-157.45	-136.68	-79.34	-57.98	-61.07
Other Non Operating Income (Expenses)	0.79	0.44	4.8	-0.19	-0.01	-0.01
EBT Excluding Unusual Items	711.44	685.22	1,006	782.37	22.97	167.25
Merger & Restructuring Charges	-	-0.6	-10.4	-	-	-
Asset Writedown	-441.75	-3.8	-5.2	-8.7	-3	-1,070
Legal Settlements	-33.09	-	-	-	-	-
Other Unusual Items	-	-	10.77	2.67	-13.38	-3.89
Pretax Income	236.6	680.82	1,001	776.34	6.59	-906.21
Income Tax Expense	55.41	160.51	77.77	3.1	0.23	-0.17
Net Income	181.19	520.31	922.97	773.24	6.36	-906.04
Preferred Dividends & Other Adjustments	-	-	-	45.53	14.76	15.27
Net Income to Common	181.19	520.31	922.97	727.7	-8.4	-921.31
Net Income Growth	-78.36%	-43.63%	19.36%	12055.90%	-	-
Shares Outstanding (Basic)	98	100	91	79	63	43
Shares Outstanding (Diluted)	100	101	92	87	63	43
Shares Change (YoY)	-1.31%	10.00%	6.21%	37.60%	47.36%	10.43%
EPS (Basic)	1.84	5.21	10.09	9.26	-0.13	-21.55
EPS (Diluted)	1.82	5.14	10.03	8.92	-0.13	-21.55
EPS Growth	-78.05%	-48.75%	12.43%	-	-	-
Free Cash Flow	-141.19	-283.19	-661.93	-431.36	-197.32	47.76
Free Cash Flow Per Share	-1.42	-2.80	-7.19	-4.98	-3.13	1.12
Dividend Per Share	1.770	1.640	1.490	0.880	0.155	-
Dividend Growth	9.26%	10.07%	69.32%	467.74%	-	-
Gross Margin	77.06%	78.58%	80.14%	85.74%	80.98%	60.47%
Operating Margin	43.27%	41.97%	65.11%	47.16%	9.01%	77.59%
Profit Margin	8.84%	25.93%	52.84%	39.82%	-0.94%	-313.06%
Free Cash Flow Margin	-6.89%	-14.11%	-37.89%	-23.60%	-21.97%	16.23%
EBITDA	2,129	1,579	1,618	1,104	218.79	387.55
EBITDA Margin	103.85%	78.70%	92.64%	60.43%	24.36%	131.69%
D&A For EBITDA	1,242	737.1	480.82	242.57	137.83	159.22
EBIT	887.16	842.23	1,137	861.89	80.96	228.33
EBIT Margin	43.27%	41.97%	65.11%	47.16%	9.01%	77.59%
Effective Tax Rate	23.42%	23.58%	7.77%	0.40%	3.53%	-
Revenue as Reported	2,381	2,226	2,166	1,571	496.9	552.21

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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