Callon (CPE) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Callon Petroleum (CPE) reported $560.05 million in revenue for the quarter ended March 2023, representing a year-over-year decline of 27.9%. EPS of $1.94 for the same period compares to $3.43 a year ago.
The reported revenue represents a surprise of +5.80% over the Zacks Consensus Estimate of $529.34 million. With the consensus EPS estimate being $1.96, the EPS surprise was -1.02%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 Callon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total average daily production: 99768 BOE/D versus 98497.21 BOE/D estimated by seven analysts on average.
Average sales price - Natural gas: $2.22 per thousand cubic feet versus $2.05 per thousand cubic feet estimated by five analysts on average.
Average sales price - Oil: $75.65 per barrel versus $74.65 per barrel estimated by five analysts on average.
Average sales price - NGLs: $24.18 per barrel versus the five-analyst average estimate of $23.03 per barrel.
Production - Total: 8979 MBOE versus 8925.03 MBOE estimated by four analysts on average.
Average realized sales price (including impact of settled derivatives) - Natural gas: $3.04 per thousand cubic feet versus $2.28 per thousand cubic feet estimated by three analysts on average.
Average realized sales price (including impact of settled derivatives)- Oil: $76.26 per barrel versus $71.65 per barrel estimated by three analysts on average.
Average realized sales price (including impact of settled derivatives) - NGLs: $24.18 per barrel compared to the $22.22 per barrel average estimate based on three analysts.
Revenues- Natural gas liquids: $43.37 million versus $40.68 million estimated by five analysts on average.
Revenues- Natural gas: $23.59 million versus $28.23 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -46.4% change.
Revenues- Oil sales: $409.56 million versus the four-analyst average estimate of $403.55 million. The reported number represents a year-over-year change of -26%.
Revenues- Sales of purchased oil and gas: $83.53 million compared to the $92.26 million average estimate based on three analysts.
View all Key Company Metrics for Callon here>>>
Shares of Callon have returned -15% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Callon Petroleum Company (CPE) : Free Stock Analysis Report
