Civitas Resources (CIVI) reported $660.53 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 42.6%. EPS of $1.72 for the same period compares to $4.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $637.2 million, representing a surprise of +3.66%. The company delivered an EPS surprise of +1.78%, with the consensus EPS estimate being $1.69.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately.
Here is how Civitas performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Avg. Daily Sales Volumes – Crude Oil Equivalent: 173491 BOE/D compared to the 167187.8 BOE/D average estimate based on five analysts.
- Avg. Daily Sales Volumes – Natural Gas: 289.55 Mcf/D versus the four-analyst average estimate of 306.11 Mcf/D.
- Avg. Daily Sales Volumes – Crude Oil: 84.37 BBL/D versus the four-analyst average estimate of 76.49 BBL/D.
- Avg. Daily Sales Volumes – Natural Gas Liquids: 40.86 BBL/D versus the four-analyst average estimate of 40.57 BBL/D.
- Revenues- Natural Gas: $45.36 million versus the two-analyst average estimate of $50.90 million.
View all Key Company Metrics for Civitas here>>>
Shares of Civitas have returned +8.5% over the past month versus the Zacks S&P 500 composite’s +3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Civitas Resources, Inc. (CIVI) : Free Stock Analysis Report
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