Oil and gas firm Granite Ridge's Q3 adjusted profit misses estimates

Granite Ridge Resources

06/11/2025 23:19

Overview

Granite Ridge Q3 adjusted EPS misses analyst expectations

Company reports 27% increase in daily production to 31,925 Boe per day

Granite Ridge issues $350 mln senior unsecured notes, enhancing liquidity

Outlook

Granite Ridge expects 2025 production between 31,000 and 33,000 Boe per day

Company projects 2025 total capital expenditures of $400 mln to $420 mln

Granite Ridge anticipates 2025 lease operating expenses of $6.25 to $7.25 per Boe

Result Drivers

PRODUCTION GROWTH - Daily production increased 27% to 31,925 Boe per day, driven by strong well performance in multiple basins

CAPITAL INVESTMENTS - Invested $64 mln in development and $16.5 mln in acquisitions to capture high-quality drilling opportunities

OPERATED PARTNERSHIPS - Strong performance from Operated Partnership platform, particularly in the Permian Basin, drove operational excellence

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Oil and Natural Gas Sales
$112.70 mln
Q3 Adjusted EPS
Miss
$0.09
$0.12 (4 Analysts)
Q3 Adjusted Net Income
Miss
$11.80 mln
$21.49 mln (4 Analysts)
Q3 Adjusted EBITDA
Miss
$78.60 mln
$81.88 mln (5 Analysts)
Q3 Adjusted Free Cash Flow
$77.80 mln
Q3 Dividend
$0.11


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Granite Ridge Resources Inc is $6.90, about 21.7% above its November 6 closing price of $5.40

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: ID:nBwbHgmhYa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)