Civitas Resources Q1 2024 GAAP EPS $1.74 Misses $2.76 Estimate, Sales $1.329B Beat $1.291B Estimate
Portfolio Pulse from Benzinga Newsdesk
Civitas Resources reported Q1 2024 earnings of $1.74 per share, missing the consensus estimate of $2.76 by 36.96%. However, their quarterly sales of $1.329 billion exceeded the estimate of $1.291 billion by 2.98%, marking a 102.58% increase from the previous year.
May 02, 2024 | 8:19 pm
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Civitas Resources missed Q1 2024 EPS estimates but exceeded revenue expectations, with a significant year-over-year sales increase.
The miss on EPS estimates could negatively impact investor sentiment and stock price in the short term. However, the significant beat on revenue estimates and the impressive year-over-year sales growth could offset the negative impact of the earnings miss, leading to a neutral short-term price direction.
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IMPORTANCE 90
RELEVANCE 100