Granite Ridge Resources Inc reports results for the quarter ended September 30 - Earnings Summary

Granite Ridge Resources

08/11/2024 21:48

* Granite Ridge Resources Inc  GRNT.N  reported quarterly
adjusted
earnings of 14 cents​​ per share for the quarter ended September
30, lower than the same quarter last year, when the company
reported EPS of 21 cents.  The mean expectation of six analysts
for the quarter was for earnings of 14 cents per share. Wall
Street expected results to range from 10 cents to 17 cents per
share.
    * Revenue fell 13.2% to $94.08 million from a year ago;
analysts
expected $96.08 million. 
    * Granite Ridge Resources Inc's reported EPS for the quarter
was 7
cents​.
    * The company reported quarterly net income of $9.05
million.
    * Granite Ridge Resources Inc shares had risen by 6.7% this
quarter and gained 5.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 13.9%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "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 Granite Ridge
Resources Inc is 7.00 
This summary was machine generated from LSEG data November 8 at
09:47 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
 Sep. 30 2024      0.14           0.14           Met
 Jun. 30 2024      0.14           0.13           Missed
 Mar. 31 2024      0.10           0.12           Beat
 Dec. 31 2023      0.20           0.20           Met