Crescent Energy Co reports results for the quarter ended in January - Earnings Summary

Crescent Energy

06/08/2024 21:07

* Crescent Energy Co  CRGY.N  reported quarterly adjusted
earnings
of 50 cents​​ per share for the quarter ended in January, higher
than the same quarter last year, when the company reported EPS
of 11 cents.  The mean expectation of seven analysts for the
quarter was for earnings of 28 cents per share. Wall Street
expected results to range from 16 cents to 37 cents per share.
    * Revenue rose 32.7% to $653.28 million from a year ago;
analysts
expected $621.80 million. 
    * Crescent Energy Co's reported EPS for the quarter was 33
cents​.
    * The company reported quarterly net income of $37.55
million.
    * Crescent Energy Co shares had fallen by 14.0% this
quarter and
lost 22.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.9%
in the last three months.​ 
    * In the last 30 days, five analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
exploration and production peer group is also "buy"

Wall Street's median 12-month price target for Crescent Energy
Co is $17.00 
This summary was machine generated from LSEG data August 6 at
08:07 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.28           0.50           Beat
 Mar. 31 2024      0.18           -0.02          Missed
 Dec. 31 2023      0.15           0.61           Beat
 Sep. 30 2023      0.27           -0.67          Missed