Matador Resources Q3 Adj EPS $1.86 Beats $1.59 Estimate, Sales $772.29M Beat $691.22M Estimate
Portfolio Pulse from Benzinga Newsdesk
Matador Resources (NYSE:MTDR) reported Q3 adjusted earnings of $1.86 per share, beating the analyst consensus estimate of $1.59 by 16.98%. However, this is a 30.6% decrease from the same period last year. The company also reported quarterly sales of $772.29 million, surpassing the analyst consensus estimate of $691.22 million by 11.73%, but this is an 8.16% decrease from the same period last year.
October 24, 2023 | 8:21 pm
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Matador Resources reported better than expected Q3 earnings and sales, but both figures are down from the same period last year.
While Matador Resources beat Q3 estimates, the year-on-year decreases in earnings and sales may offset any positive impact from the earnings beat. This could lead to a neutral short-term price direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100