Callon Petroleum Q4 EPS $1.62 Beats $1.61 Estimate, Sales $485.73M Miss $546.26M Estimate
Portfolio Pulse from Happy Mohamed
Callon Petroleum (NYSE:CPE) reported Q4 earnings of $1.62 per share, slightly above the $1.61 estimate but a 51.79% decrease from last year. Sales were $485.73M, missing the $546.26M estimate and down 13.56% from the previous year.
February 26, 2024 | 9:38 pm
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Callon Petroleum's Q4 earnings surpassed estimates but showed a significant year-over-year decline. Sales missed expectations and also decreased compared to last year.
Despite beating earnings estimates, the significant year-over-year decrease in both earnings and sales could negatively impact investor sentiment towards CPE in the short term. The miss on sales estimates further compounds concerns about the company's revenue generation capabilities.
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