Civitas Resources Q4 2023 GAAP EPS $3.20 Beats $2.91 Estimate, Sales $1.13B Miss $1.18B Estimate
Portfolio Pulse from Benzinga Newsdesk
Civitas Resources (NYSE:CIVI) reported Q4 2023 earnings of $3.20 per share, surpassing the $2.91 estimate. However, their sales of $1.13B fell short of the $1.18B estimate, marking a 38.41% increase from the previous year.
February 27, 2024 | 9:19 pm
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Civitas Resources reported higher-than-expected Q4 2023 EPS at $3.20, but missed sales estimates with $1.13B against a $1.18B forecast.
The positive earnings surprise could support the stock price, as beating EPS estimates is often viewed favorably by investors. However, the miss on sales forecasts could temper enthusiasm, leading to a neutral short-term impact. The significant year-over-year sales increase indicates strong growth, which could positively influence investor sentiment over time.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100