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Acacia Research reports Q4 EPS (14c), consensus (7c)

Reports Q4 revenue $ $48.8M , consensus $47.75M.Martin McNulty, Jr., Chief Executive Officer, stated, "2024 was a transformational year for Acacia. We continued executing our strategy of acquiring and building businesses with stable cash flow generation and scalability, specifically with two opportunistic acquisitions that we believe present attractive risk-adjusted return characteristics and that should create value for shareholders. We accomplished this while continuing to enhance our existing businesses and investments, and with a close eye on capital allocation. In April, our majority-owned oil and gas subsidiary, Benchmark, completed the acquisition of the upstream production Revolution assets in Texas and Oklahoma. These assets present the attractive characteristics we look for in oil and gas acquisitions, including shallow decline, long-life production profiles, a balanced hydrocarbon stream, rich in valuable natural gas liquids, and an opportunity to operationally improve production. Since closing the acquisition, the Benchmark team has fully integrated the acquired assets and has completed over 40 capital workover projects which have replenished our reserve base in an amount offsetting our production since we acquired the assets. Benchmark also established a robust, internally managed energy services business to more efficiently and cost-effectively service its assets and those of our working interest partners. The team is actively working to enhance the value of our assets, including those already producing oil and gas as well as upside potential in the Cherokee play and the Cleveland formation, which came with our most recent acquisition....Following the completion of the Benchmark and Deflecto acquisitions, we have a healthy cash balance of $273.9 million at year end for future transactions. Finally, as part of our strategy to deploy excess cash to shareholders, and increase total shareholder returns over time while protecting our valuable tax attributes, we repurchased $20M in Acacia shares during the year, the maximum authorized under our stock repurchase program."

Acacia Research reports Q3 EPS (14c), consensus 1c

Reports Q3 revenue $23.3M, consensus $27.25M.Martin McNulty, Jr., Chief Executive Officer, stated, "Acacia's third quarter results reflect the Company's unwavering focus on value creation via its core technology, energy and industrials verticals. The Company generated $23.3 million in consolidated revenue, up 131% compared to the third quarter last year, recorded a net loss of $14.0 million and produced $1.7 million of Total Company Adjusted EBITDA, and $6.9 million of Operated Segment Adjusted EBITDA for the quarter.1 Excluding the Company's Intellectual Property Operations, Operated Segment Adjusted EBITDA was $9.0 million for the quarter. A breakdown of the Adjusted EBITDA for each of the Company's operating segments for the three months ended March 31, June 30 and September 30, and the nine months ended September 30 is included in this Earnings Release and in the Company's third quarter 2024 earnings presentation. Subsequent to the quarter, Acacia completed its third transaction in the last twelve months, acquiring Deflecto Acquisition, Inc., a leading specialty manufacturer of essential products serving the commercial transportation, HVAC and office markets for $103.7 million. I'm excited about the value creation potential Deflecto offers through product and operational optimization, and strategic M&A, and look forward to integrating Deflecto into Acacia's growing portfolio of strategic assets.