Recap: Granite Ridge Resources Q4 Earnings
Portfolio Pulse from Benzinga Insights
Granite Ridge Resources (NYSE:GRNT) reported its Q4 earnings, missing estimated earnings by 0.0% with an EPS of $0.2, matching the estimate. Revenue decreased by $9.54 million from the previous year. Despite missing EPS estimates last quarter, the share price increased by 1.0% the following day.
March 07, 2024 | 9:40 pm
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Granite Ridge Resources reported Q4 earnings with an EPS of $0.2, meeting estimates, but saw a decrease in revenue by $9.54 million from the previous year.
Granite Ridge Resources' earnings report showed a match on EPS estimates but a significant drop in revenue. Historically, even when missing EPS estimates, GRNT's share price increased by 1.0% the following day, indicating a potentially neutral short-term impact on the stock price. The revenue drop is concerning, but the market's previous reaction to earnings misses suggests a tempered response.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100