For the quarter ended September 2023, Civitas Resources reported revenue of $1.04 billion, up 2.8% over the same period last year. EPS came in at $1.56, compared to $3.56 in the year-ago quarter.
The reported revenue represents a surprise of +3.30% over the Zacks Consensus Estimate of $1 billion. With the consensus EPS estimate being $2.55, the EPS surprise was -38.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 Civitas performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Avg. Daily Sales Volumes - Crude Oil Equivalent: 235,268 BOE/D versus the five-analyst average estimate of 237,026.6 BOE/D.
- Avg. Daily Sales Volumes - Natural Gas: 406.3 Mcf/D compared to the 400.96 Mcf/D average estimate based on four analysts.
- Avg. Daily Sales Volumes - Crude Oil: 113.85 BBL/D versus 114.87 BBL/D estimated by four analysts on average.
- Avg. Daily Sales Volumes - Natural Gas Liquids: 53.7 BBL/D versus 56.51 BBL/D estimated by four analysts on average.
- Revenues- Natural Gas: $80.11 million versus the three-analyst average estimate of $73.13 million. The reported number represents a year-over-year change of -63.1%.
- Revenues- Natural Gas Liquids: $112.91 million versus the two-analyst average estimate of $122 million. The reported number represents a year-over-year change of -17.9%.
- Revenues- Crude Oil: $841.39 million compared to the $824.50 million average estimate based on two analysts. The reported number represents a change of +28.7% year over year.
View all Key Company Metrics for Civitas here>>>Shares of Civitas have returned +2.5% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Civitas (CIVI) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Civitas Resources reported revenue of $1.04 billion, up 2.8% over the same period last year. EPS came in at $1.56, compared to $3.56 in the year-ago quarter.
The reported revenue represents a surprise of +3.30% over the Zacks Consensus Estimate of $1 billion. With the consensus EPS estimate being $2.55, the EPS surprise was -38.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 Civitas performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Avg. Daily Sales Volumes - Crude Oil Equivalent: 235,268 BOE/D versus the five-analyst average estimate of 237,026.6 BOE/D.
- Avg. Daily Sales Volumes - Natural Gas: 406.3 Mcf/D compared to the 400.96 Mcf/D average estimate based on four analysts.
- Avg. Daily Sales Volumes - Crude Oil: 113.85 BBL/D versus 114.87 BBL/D estimated by four analysts on average.
- Avg. Daily Sales Volumes - Natural Gas Liquids: 53.7 BBL/D versus 56.51 BBL/D estimated by four analysts on average.
- Revenues- Natural Gas: $80.11 million versus the three-analyst average estimate of $73.13 million. The reported number represents a year-over-year change of -63.1%.
- Revenues- Natural Gas Liquids: $112.91 million versus the two-analyst average estimate of $122 million. The reported number represents a year-over-year change of -17.9%.
- Revenues- Crude Oil: $841.39 million compared to the $824.50 million average estimate based on two analysts. The reported number represents a change of +28.7% year over year.
View all Key Company Metrics for Civitas here>>>Shares of Civitas have returned +2.5% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.