Earthstone Energy Q3 adj EPS $0.75 Misses $0.77 Estimate, Sales $475.82M Beat $447.97M Estimate
Portfolio Pulse from Benzinga Newsdesk
Earthstone Energy (NYSE:ESTE) reported Q3 adjusted earnings of $0.75 per share, missing the analyst consensus estimate of $0.77 by 2.6 percent. This represents a 42.31 percent decrease from the same period last year. However, the company's quarterly sales of $475.82 million beat the analyst consensus estimate of $447.97 million by 6.22 percent, despite being a 10.48 percent decrease from the previous year.
November 01, 2023 | 6:10 am
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NEGATIVE IMPACT
Earthstone Energy's Q3 earnings missed estimates but sales exceeded expectations. The company's earnings per share decreased by 42.31% YoY, while sales decreased by 10.48% YoY.
Earthstone Energy's earnings miss and the YoY decrease in both earnings and sales could negatively impact investor sentiment and the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100