Matador (MTDR) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Matador Resources (MTDR) reported $772.29 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 8.2%. EPS of $1.86 for the same period compares to $2.68 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $697.33 million, representing a surprise of +10.75%. The company delivered an EPS surprise of +16.98%, with the consensus EPS estimate being $1.59.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Matador performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Daily Production Volumes - Total oil equivalent: 135096 millions of barrels of oil equivalent compared to the 131536.7 millions of barrels of oil equivalent average estimate based on six analysts.
Average Daily Production Volumes - Oil: 77,529 BBL/D compared to the 76,677.16 BBL/D average estimate based on five analysts.
Average Daily Production Volumes - Natural gas: 345.4 millions of cubic feet versus the five-analyst average estimate of 328.9 millions of cubic feet.
Average Sales Prices - Oil without realized derivatives: $82.49 compared to the $81.58 average estimate based on three analysts.
Average Sales Prices - Natural gas without realized derivatives: $3.56 versus the three-analyst average estimate of $3.31.
Revenues- Third-party midstream services revenues: $29.93 million versus the three-analyst average estimate of $31.99 million. The reported number represents a year-over-year change of +21.1%.
Revenues- Oil and natural gas revenues: $701.53 million versus $637.49 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.6% change.
Revenues- Sales of purchased natural gas: $40.33 million compared to the $56.29 million average estimate based on two analysts. The reported number represents a change of -48.3% year over year.
View all Key Company Metrics for Matador here>>>
Shares of Matador have returned +9.3% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Matador Resources Company (MTDR) : Free Stock Analysis Report
