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Here's What Key Metrics Tell Us About Gulfport (GPOR) Q3 Earnings
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For the quarter ended September 2023, Gulfport Energy (GPOR - Free Report) reported revenue of $266.67 million, up 39.5% over the same period last year. EPS came in at -$1.30, compared to $3.69 in the year-ago quarter.
The reported revenue represents a surprise of +1.31% over the Zacks Consensus Estimate of $263.23 million. With the consensus EPS estimate being $2.42, the EPS surprise was -153.72%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Gulfport performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production volume per day - Gas equivalent: 1,056,887 Mcfe/D versus 1,044,956 Mcfe/D estimated by three analysts on average.
Production volume per day - NGL: 11,061 BBL/D versus 12,602.74 BBL/D estimated by three analysts on average.
Production volume per day - Oil and condensate: 3,195 BBL/D compared to the 3,431.57 BBL/D average estimate based on three analysts.
Production volume per day - Natural gas: 971,352 Mcf/D versus the three-analyst average estimate of 949,483.4 Mcf/D.
Average price, including settled derivatives - Natural gas: $2.53 per thousand cubic feet compared to the $2.51 per thousand cubic feet average estimate based on two analysts.
Average price, including settled derivatives - Oil and condensate: 70.65 $/Bbl versus the two-analyst average estimate of 75.33 $/Bbl.
Average price without the impact of derivatives - NGL: 26.49 $/Bbl versus the two-analyst average estimate of 26.09 $/Bbl.
Average price without the impact of derivatives - Oil and condensate: 77.9 $/Bbl versus 78.67 $/Bbl estimated by two analysts on average.
Average price without the impact of derivatives - Natural Gas: $1.99 per thousand cubic feet versus the two-analyst average estimate of $2.04 per thousand cubic feet.
Revenues- Natural gas sales: $177.40 million versus the two-analyst average estimate of $196.33 million. The reported number represents a year-over-year change of -69.7%.
Revenues- Oil and condensate sales: $22.90 million versus $24.45 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -36.5% change.
Revenues- Natural gas liquid sales: $26.95 million versus the two-analyst average estimate of $30.07 million. The reported number represents a year-over-year change of -39.2%.
Shares of Gulfport have returned +4.7% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Gulfport (GPOR) Q3 Earnings
For the quarter ended September 2023, Gulfport Energy (GPOR - Free Report) reported revenue of $266.67 million, up 39.5% over the same period last year. EPS came in at -$1.30, compared to $3.69 in the year-ago quarter.
The reported revenue represents a surprise of +1.31% over the Zacks Consensus Estimate of $263.23 million. With the consensus EPS estimate being $2.42, the EPS surprise was -153.72%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Gulfport performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Production volume per day - Gas equivalent: 1,056,887 Mcfe/D versus 1,044,956 Mcfe/D estimated by three analysts on average.
- Production volume per day - NGL: 11,061 BBL/D versus 12,602.74 BBL/D estimated by three analysts on average.
- Production volume per day - Oil and condensate: 3,195 BBL/D compared to the 3,431.57 BBL/D average estimate based on three analysts.
- Production volume per day - Natural gas: 971,352 Mcf/D versus the three-analyst average estimate of 949,483.4 Mcf/D.
- Average price, including settled derivatives - Natural gas: $2.53 per thousand cubic feet compared to the $2.51 per thousand cubic feet average estimate based on two analysts.
- Average price, including settled derivatives - Oil and condensate: 70.65 $/Bbl versus the two-analyst average estimate of 75.33 $/Bbl.
- Average price without the impact of derivatives - NGL: 26.49 $/Bbl versus the two-analyst average estimate of 26.09 $/Bbl.
- Average price without the impact of derivatives - Oil and condensate: 77.9 $/Bbl versus 78.67 $/Bbl estimated by two analysts on average.
- Average price without the impact of derivatives - Natural Gas: $1.99 per thousand cubic feet versus the two-analyst average estimate of $2.04 per thousand cubic feet.
- Revenues- Natural gas sales: $177.40 million versus the two-analyst average estimate of $196.33 million. The reported number represents a year-over-year change of -69.7%.
- Revenues- Oil and condensate sales: $22.90 million versus $24.45 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -36.5% change.
- Revenues- Natural gas liquid sales: $26.95 million versus the two-analyst average estimate of $30.07 million. The reported number represents a year-over-year change of -39.2%.
View all Key Company Metrics for Gulfport here>>>Shares of Gulfport have returned +4.7% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.