Civitas Resources Q2 2024 Adj. EPS $2.06 Misses $2.81 Estimate, Sales $1.312B Miss $1.346B Estimate
Portfolio Pulse from Benzinga Newsdesk
Civitas Resources (NYSE:CIVI) reported Q2 2024 adjusted EPS of $2.06, missing the analyst estimate of $2.81 by 26.69%. Sales were $1.312 billion, missing the $1.346 billion estimate by 2.53%. Despite the misses, sales increased by 98.63% year-over-year.
August 01, 2024 | 8:19 pm
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Civitas Resources reported Q2 2024 EPS of $2.06, missing the $2.81 estimate by 26.69%. Sales of $1.312 billion also missed the $1.346 billion estimate by 2.53%, but increased 98.63% year-over-year.
The significant miss on EPS and slight miss on sales estimates are likely to negatively impact the stock price in the short term, despite the strong year-over-year sales growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100