Ring Energy Q3 2023 Adj EPS $0.13 Beats $0.12 Estimate, Sales $93.68M Beat $87.23M Estimate
Portfolio Pulse from saritha@benzinga.com
Ring Energy (AMEX:REI) reported Q3 2023 earnings of $0.13 per share, beating the analyst consensus estimate of $0.12 by 8.33%. However, this is a 53.57% decrease from the same period last year. The company also reported quarterly sales of $93.68 million, beating the estimate of $87.23 million by 7.40%, but this is a 0.77% decrease from the same period last year.
November 02, 2023 | 8:53 pm
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NEUTRAL IMPACT
Ring Energy's Q3 2023 earnings and sales beat estimates but are down from the same period last year.
While Ring Energy beat earnings and sales estimates, which is generally positive for the stock, the year-over-year decreases in both earnings and sales could offset this positive impact. Therefore, the short-term impact on the stock is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100