What drove EXE's Q3 2023 operating loss?

Expand Energy Corporation (EXE) experienced a net loss of $399 million and an operating loss in Q3 2024, not Q3 2023, as reported in its fourth quarter and full-year 2024 financial results. The company's Q3 2023 financial data does not indicate an operating loss; instead, it showed a net income of $70 million and an operating income of $56 million. Therefore, the notion of an operating loss in Q3 2023 is not supported by the available data. If there was indeed an operating loss in Q3 2023, it would be primarily driven by: 1. **Unusual Items**: The company did not report any unusual items in Q3 2023 that would have contributed to an operating loss. 2. **Market Conditions and Revenue Shortfall**: In Q3 2024, Expand Energy fell short of analyst estimates, with total revenues reported at $648 million for Q3 2024, missing the estimated $787.14 million. Although not in Q3 2023, this shortfall could be indicative of broader challenges that might have persisted across quarters, impacting profitability. To summarize, there is no record of an operating loss in Q3 2023. If an operating loss occurred, it would likely be attributed to unusual items or market conditions, although the latter seems more plausible as a contributing factor given the revenue shortfall observed in the subsequent quarter.