Granite Ridge Resources Q2 2024 Adj. EPS $0.13 Misses $0.15 Estimate, Sales $90.652M Miss $95.893M Estimate
Portfolio Pulse from Benzinga Newsdesk
Granite Ridge Resources (NYSE:GRNT) reported Q2 2024 earnings per share of $0.13, missing the analyst estimate of $0.15 by 13.33%. The company also reported sales of $90.652 million, missing the estimate of $95.893 million by 5.47%. Despite the misses, sales increased by 3.53% compared to the same period last year.
August 08, 2024 | 8:19 pm
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NEGATIVE IMPACT
Granite Ridge Resources reported Q2 2024 EPS of $0.13, missing the $0.15 estimate. Sales of $90.652M also missed the $95.893M estimate. Sales increased by 3.53% YoY.
The company's earnings and sales both missed analyst estimates, which is likely to negatively impact the stock price in the short term. However, the year-over-year sales increase may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100