Granite Ridge Resources Q1 2024 Adj EPS $0.12 Beats $0.10 Estimate, Sales $88.996M Beat $88.750M Estimate
Portfolio Pulse from Benzinga Newsdesk
Granite Ridge Resources (NYSE:GRNT) reported Q1 2024 adjusted EPS of $0.12, surpassing the $0.10 estimate, and sales of $88.996M, slightly above the $88.750M estimate. However, these figures represent a decrease from the previous year, with earnings down 42.86% and sales down 2.53%.
May 09, 2024 | 8:27 pm
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Granite Ridge Resources reported a Q1 2024 EPS of $0.12, beating estimates, with sales of $88.996M also exceeding expectations. Despite the positive beat, earnings and sales have declined from the previous year.
While GRNT beat earnings and sales estimates for Q1 2024, the year-over-year decline in both earnings and sales may temper investor enthusiasm. The beat on estimates could provide some short-term positive momentum, but the decline compared to the previous year's performance could limit upside potential.
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IMPORTANCE 75
RELEVANCE 100