Recap: Civitas Resources Q3 Earnings
Portfolio Pulse from Benzinga Insights
Civitas Resources (NYSE:CIVI) reported Q3 earnings, missing estimated earnings by 39.3% with an EPS of $1.56 versus an estimate of $2.57. However, revenue was up $28.00 million from the same period last year. Last quarter, the company beat EPS estimates which was followed by a 1.01% drop in the share price the next day.
November 07, 2023 | 9:55 pm
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Civitas Resources missed Q3 earnings estimates by 39.3%, but saw a YoY revenue increase. Last quarter's earnings beat was followed by a share price drop.
Civitas Resources missed its Q3 earnings estimates significantly, which could negatively impact investor sentiment and potentially lead to a short-term drop in the stock price. However, the company's revenue increase YoY might offset some of this negative impact.
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