Kimbell Royalty Partners Q1 2024 GAAP EPS $0.04 Misses $0.20 Estimate, Sales $82.234M Beat $79.420M Estimate
Portfolio Pulse from Benzinga Newsdesk
Kimbell Royalty Partners (KRP) reported Q1 2024 earnings of $0.04 per share, missing the consensus estimate of $0.20 by 80%. However, their quarterly sales of $82.234M exceeded the estimate of $79.420M by 3.54%, marking a 22.89% increase from the previous year.
May 02, 2024 | 11:05 am
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Kimbell Royalty Partners reported lower-than-expected Q1 2024 earnings but surpassed revenue estimates with a significant year-over-year increase.
The miss in earnings per share (EPS) could negatively impact investor sentiment in the short term, potentially putting downward pressure on KRP's stock price. However, the beat on revenue estimates and the significant year-over-year sales growth could offset some of the negative impact from the earnings miss. The mixed results present a neutral outlook, as the positive revenue performance may balance concerns over the earnings shortfall.
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