Crescent Point Energy Q1 2024 Adj EPS $0.22 Misses $0.35 Estimate, Sales $821.990M Miss $1.003B Estimate
Portfolio Pulse from Benzinga Newsdesk
Crescent Point Energy (CPG) reported Q1 2024 earnings of $0.22 per share, missing the consensus estimate of $0.35 by 36.29%. Quarterly sales were $821.990M, below the $1.003B estimate, marking an 18.05% miss but a 21.63% increase from the previous year.
May 10, 2024 | 10:38 am
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NEGATIVE IMPACT
Crescent Point Energy's Q1 2024 earnings and sales missed estimates, with a significant gap in expected EPS and sales figures, though sales increased year-over-year.
Missing both earnings and sales estimates significantly, especially by 36.29% for EPS, is likely to negatively impact investor sentiment and stock price in the short term. However, the year-over-year sales growth may provide some buffer against a steep decline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100