Ring Energy Q4 2023 Adj EPS $0.110 Misses $0.120 Estimate, Sales $99.943M Beat $97.121M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ring Energy (AMEX:REI) reported Q4 2023 earnings of $0.110 per share, missing the consensus estimate of $0.120 by 8.33%. However, their quarterly sales of $99.943M exceeded the estimate of $97.121M by 2.91%, marking a 0.25% increase from the previous year.
March 07, 2024 | 10:05 pm
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Ring Energy reported Q4 2023 earnings below estimates but surpassed revenue expectations, showing a slight year-over-year sales increase.
While the earnings per share (EPS) missed the analyst estimates, which could negatively impact investor sentiment in the short term, the beat on revenue estimates and the year-over-year sales growth could offset this negative impact. The mixed results present a neutral outlook for the stock in the short term, as the revenue beat indicates operational strength, but the EPS miss may raise concerns about profitability.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100