Ring Energy Q2 Adj EPS $0.14 Beats $0.10 Estimate, Sales $79.35M Miss $85.00M Estimate
Portfolio Pulse from sunil@benzinga.com
Ring Energy (AMEX:REI) reported Q2 earnings of $0.14 per share, beating the analyst consensus estimate of $0.10 by 40%. However, this is a 51.72% decrease from the same period last year. The company's quarterly sales of $79.35 million missed the analyst consensus estimate of $85.00 million by 6.65%, marking a 6.61% decrease from last year.
August 04, 2023 | 2:46 pm
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Ring Energy's Q2 earnings beat estimates but are significantly down YoY. Sales also missed estimates and are down YoY.
Despite beating the earnings estimate, Ring Energy's significant YoY decrease in earnings and sales, as well as missing the sales estimate, could negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100