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Earnings Preview for Callon Petroleum

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Benzinga Insights
·2 min read
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On Wednesday, February 24, Callon Petroleum (NYSE:CPE) will report its last quarter's earnings. Here is Benzinga's preview of the company's release.

What Are Earnings, Net Income, And Earnings Per Share?

Earnings and especially earnings per share (EPS) are useful measures of a company's profitability. Total earnings, which is also referred to as net income, equals total revenue minus total expenses. EPS equals to net income divided by the number of shares outstanding.

Earnings And Revenue

Wall Street expects EPS of $0.47 and sales around $256.88 million. In the same quarter last year, Callon Petroleum reported earnings per share of $0.23 on sales of $192.74 million.

Why Analyst Estimates And Earnings Surprises Are Important

Analysts who cover this company will publish forward-looking estimates of its revenue and EPS each quarter. Averaging together every EPS and revenue prediction that each analyst makes about a company in a quarter yields the "consensus estimates." A company posting earnings or revenue above or below the consensus estimate is known as an "earnings surprise" and may move the stock by a considerable margin.

View more earnings on CPE

If the company were to match the consensus estimate when it reports Wednesday, earnings would be up 104.35%. Sales would be up 33.28% from the year-ago period. Here is how the company's reported EPS has stacked up against analyst estimates in the past:

EPS Estimate

0.05

-0.05

0.13

0.20

EPS Actual

0.64

0.01

0.12

0.23

Revenue Estimate

249.69 M

191.63 M

337.74 M

184.39 M

Revenue Actual

264.17 M

241.44 M

315.05 M

192.74 M

Stock Performance

Shares of Callon Petroleum were trading at $24.68 as of February 22. Over the last 52-week period, shares are down 3.09%. Given that these returns are generally negative, long-term shareholders are probably a little upset going into this earnings release.

Do not be surprised to see the stock move on comments made during its conference call. Callon Petroleum is scheduled to hold the call at 09:00:00 ET and can be accessed here.

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