Northern Oil & Gas Q2 EPS $1.49 Beats $1.35 Estimate, Sales $416.49M Miss $417.30M Estimate
Portfolio Pulse from Benzinga Newsdesk
Northern Oil & Gas (NYSE:NOG) reported Q2 earnings of $1.49 per share, beating the analyst consensus estimate of $1.35 by 10.37%. However, this is a 13.37% decrease from the same period last year. The company's quarterly sales of $416.49 million missed the analyst consensus estimate of $417.30 million by 0.19%, marking a 24.23% decrease from the same period last year.
August 04, 2023 | 12:09 pm
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Northern Oil & Gas beat Q2 earnings estimates but missed on sales, which also decreased significantly YoY.
While Northern Oil & Gas beat earnings estimates, the miss on sales and the significant YoY decrease could potentially offset any positive sentiment from the earnings beat. This mixed result makes the short term price direction uncertain.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100