For the quarter ended September 2023, Callon Petroleum reported revenue of $619.3 million, down 25.9% over the same period last year. EPS came in at $1.82, compared to $4.04 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $573.43 million, representing a surprise of +8.00%. The company delivered an EPS surprise of +1.68%, with the consensus EPS estimate being $1.79.
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 Callon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total daily production - Total barrels of oil equivalent: 101,741 BOE/D versus the eight-analyst average estimate of 101,650.4 BOE/D.
- Average realized sales price (excluding impact of settled derivatives) - Total natural gas: $2.14 per thousand cubic feet versus $1.95 per thousand cubic feet estimated by six analysts on average.
- Average realized sales price (excluding impact of settled derivatives) - Total NGL: $22.4 per barrel versus $22.16 per barrel estimated by six analysts on average.
- Average realized sales price (excluding impact of settled derivatives) - Total oil: $82.18 per barrel versus the six-analyst average estimate of $81.46 per barrel.
- Total production - Total barrels of oil equivalent: 9,361 MBOE versus 9,282.58 MBOE estimated by five analysts on average.
- Production - Total oil: 5,338 MBBL compared to the 5,516.01 MBBL average estimate based on four analysts.
- Production - Total natural gas: 11,688 Mcf compared to the 10,805.43 Mcf average estimate based on four analysts.
- Production - Total NGLs: 2,075 MBBL versus 1,961.27 MBBL estimated by four analysts on average.
- Revenues- Natural gas liquids: $46.49 million compared to the $43.51 million average estimate based on five analysts. The reported number represents a change of -31.2% year over year.
- Revenues- Natural gas: $25.05 million compared to the $20.36 million average estimate based on five analysts. The reported number represents a change of -69.1% year over year.
- Revenues- Oil: $438.67 million versus the five-analyst average estimate of $445.72 million. The reported number represents a year-over-year change of -23.8%.
- Revenues- Sales of purchased oil and gas: $109.10 million versus $81.27 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.1% change.
View all Key Company Metrics for Callon here>>>Shares of Callon have returned +2.5% over the past month versus the Zacks S&P 500 composite's -2.2% 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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Callon (CPE) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Callon Petroleum reported revenue of $619.3 million, down 25.9% over the same period last year. EPS came in at $1.82, compared to $4.04 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $573.43 million, representing a surprise of +8.00%. The company delivered an EPS surprise of +1.68%, with the consensus EPS estimate being $1.79.
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 Callon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total daily production - Total barrels of oil equivalent: 101,741 BOE/D versus the eight-analyst average estimate of 101,650.4 BOE/D.
- Average realized sales price (excluding impact of settled derivatives) - Total natural gas: $2.14 per thousand cubic feet versus $1.95 per thousand cubic feet estimated by six analysts on average.
- Average realized sales price (excluding impact of settled derivatives) - Total NGL: $22.4 per barrel versus $22.16 per barrel estimated by six analysts on average.
- Average realized sales price (excluding impact of settled derivatives) - Total oil: $82.18 per barrel versus the six-analyst average estimate of $81.46 per barrel.
- Total production - Total barrels of oil equivalent: 9,361 MBOE versus 9,282.58 MBOE estimated by five analysts on average.
- Production - Total oil: 5,338 MBBL compared to the 5,516.01 MBBL average estimate based on four analysts.
- Production - Total natural gas: 11,688 Mcf compared to the 10,805.43 Mcf average estimate based on four analysts.
- Production - Total NGLs: 2,075 MBBL versus 1,961.27 MBBL estimated by four analysts on average.
- Revenues- Natural gas liquids: $46.49 million compared to the $43.51 million average estimate based on five analysts. The reported number represents a change of -31.2% year over year.
- Revenues- Natural gas: $25.05 million compared to the $20.36 million average estimate based on five analysts. The reported number represents a change of -69.1% year over year.
- Revenues- Oil: $438.67 million versus the five-analyst average estimate of $445.72 million. The reported number represents a year-over-year change of -23.8%.
- Revenues- Sales of purchased oil and gas: $109.10 million versus $81.27 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.1% change.
View all Key Company Metrics for Callon here>>>Shares of Callon have returned +2.5% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.