Granite Ridge Resources Inc reports results for the quarter ended in December - Earnings Summary

Granite Ridge Resources

08/03/2024 24:24

* Granite Ridge Resources Inc  GRNT.N  reported quarterly
adjusted
earnings of 20 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 42 cents.  The mean expectation of
four analysts for the quarter was for earnings of 20 cents per
share. Wall Street expected results to range from 18 cents to 21
cents per share.
    * Revenue was $106.80 million​; analysts expected $105.35
million. 
    * Granite Ridge Resources Inc's reported EPS for the quarter
was
13 cents​.
    * The company reported quarterly net income of $17.54
million.
    * Granite Ridge Resources Inc shares had risen by 0.5% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 22.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 3 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
exploration and production peer group is also "strong buy"

Wall Street's median 12-month price target for Granite Ridge
Resources Inc is $8.00 
This summary was machine generated from LSEG data March 8 at
12:23 a.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
 Dec. 31 2023      0.20           0.20           Met
 Sep. 30 2023      0.24           0.21           Missed
 Jun. 30 2023      0.18           0.19           Beat
 Mar. 31 2023      0.28           0.21           Missed