CORRECTION: Crescent Energy Q2 Adj $0.51 Beats $0.14 Estimate, Sales $492.34M Beat $482.14M Estimate
Portfolio Pulse from Happy Mohamed
Crescent Energy (NYSE:CRGY) reported Q2 earnings of $0.51 per share, beating the analyst consensus estimate of $0.14 by 264.29%. However, this is a 60.77% decrease from the same period last year. The company also reported quarterly sales of $492.34 million, beating the estimate of $482.14 million by 2.12%, but this is a 45.80% decrease from the same period last year.
August 09, 2023 | 8:50 pm
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NEUTRAL IMPACT
Crescent Energy's Q2 earnings and sales beat estimates but are significantly lower than the same period last year.
While Crescent Energy beat the estimates for Q2 earnings and sales, the significant decrease from the same period last year might concern investors. This could potentially lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100