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Compared to Estimates, Gulfport (GPOR) Q2 Earnings: A Look at Key Metrics
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Gulfport Energy (GPOR - Free Report) reported $304.71 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 34.5%. EPS of $1.85 for the same period compares to $5.09 a year ago.
The reported revenue represents a surprise of +26.81% over the Zacks Consensus Estimate of $240.28 million. With the consensus EPS estimate being $2.13, the EPS surprise was -13.15%.
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 Gulfport performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Production volume per day - Gas equivalent: 1039323 Mcfe/D versus 1010904 Mcfe/D estimated by three analysts on average.
Production volume per day - NGL: 12036 BBL/D versus the three-analyst average estimate of 13653.5 BBL/D.
Production volume per day - Oil and condensate: 3533 BBL/D versus 4293.7 BBL/D estimated by three analysts on average.
Production volume per day - Natural gas: 945910 Mcf/D versus 902754.1 Mcf/D estimated by three analysts on average.
Average price, including settled derivatives - Natural gas: $2.42 per thousand cubic feet versus the two-analyst average estimate of $2.42 per thousand cubic feet.
Average price, including settled derivatives - Oil and condensate: 71.45 $/Bbl compared to the 69.51 $/Bbl average estimate based on two analysts.
Average price without the impact of derivatives - NGL: 23.8 $/Bbl versus the two-analyst average estimate of 23.78 $/Bbl.
Average price without the impact of derivatives - Oil and condensate: 70.3 $/Bbl versus 70.34 $/Bbl estimated by two analysts on average.
Average price without the impact of derivatives - Natural Gas: $1.85 per thousand cubic feet versus $1.83 per thousand cubic feet estimated by two analysts on average.
Revenues- Natural gas sales: $159.25 million versus $171.52 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -70.5% change.
Revenues- Oil and condensate sales: $22.60 million compared to the $28.85 million average estimate based on two analysts. The reported number represents a change of -49.8% year over year.
Revenues- Natural gas liquid sales: $26.07 million compared to the $31.06 million average estimate based on two analysts. The reported number represents a change of -51.8% year over year.
Shares of Gulfport have returned -1.5% over the past month versus the Zacks S&P 500 composite's +3.3% 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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Compared to Estimates, Gulfport (GPOR) Q2 Earnings: A Look at Key Metrics
Gulfport Energy (GPOR - Free Report) reported $304.71 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 34.5%. EPS of $1.85 for the same period compares to $5.09 a year ago.
The reported revenue represents a surprise of +26.81% over the Zacks Consensus Estimate of $240.28 million. With the consensus EPS estimate being $2.13, the EPS surprise was -13.15%.
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 Gulfport performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Production volume per day - Gas equivalent: 1039323 Mcfe/D versus 1010904 Mcfe/D estimated by three analysts on average.
- Production volume per day - NGL: 12036 BBL/D versus the three-analyst average estimate of 13653.5 BBL/D.
- Production volume per day - Oil and condensate: 3533 BBL/D versus 4293.7 BBL/D estimated by three analysts on average.
- Production volume per day - Natural gas: 945910 Mcf/D versus 902754.1 Mcf/D estimated by three analysts on average.
- Average price, including settled derivatives - Natural gas: $2.42 per thousand cubic feet versus the two-analyst average estimate of $2.42 per thousand cubic feet.
- Average price, including settled derivatives - Oil and condensate: 71.45 $/Bbl compared to the 69.51 $/Bbl average estimate based on two analysts.
- Average price without the impact of derivatives - NGL: 23.8 $/Bbl versus the two-analyst average estimate of 23.78 $/Bbl.
- Average price without the impact of derivatives - Oil and condensate: 70.3 $/Bbl versus 70.34 $/Bbl estimated by two analysts on average.
- Average price without the impact of derivatives - Natural Gas: $1.85 per thousand cubic feet versus $1.83 per thousand cubic feet estimated by two analysts on average.
- Revenues- Natural gas sales: $159.25 million versus $171.52 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -70.5% change.
- Revenues- Oil and condensate sales: $22.60 million compared to the $28.85 million average estimate based on two analysts. The reported number represents a change of -49.8% year over year.
- Revenues- Natural gas liquid sales: $26.07 million compared to the $31.06 million average estimate based on two analysts. The reported number represents a change of -51.8% year over year.
View all Key Company Metrics for Gulfport here>>>Shares of Gulfport have returned -1.5% over the past month versus the Zacks S&P 500 composite's +3.3% 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.