Carrizo Oil & Gas Earnings: Here’s Why Investors are Excited Now

Carrizo Oil & Gas Inc. (NASDAQ:CRZO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.78%.

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Carrizo Oil & Gas Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 134.78% to $0.54 in the quarter versus EPS of $0.23 in the year-earlier quarter.

Revenue: Rose 92.76% to $107.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Carrizo Oil & Gas Inc. reported adjusted EPS income of $0.54 per share. By that measure, the company beat the mean analyst estimate of $0.35. It beat the average revenue estimate of $107.27 million.

Quoting Management: S.P. “Chip” Johnson, IV, President and CEO of Carrizo commented on the quarter’s results, “Our fourth quarter performance once again sets new records on a number of fronts, capping off a transformational year for the Company. Thanks to our record oil production, we reported the highest quarterly revenue and EBITDA in the history of the Company. We have now reported sequential revenue growth for the last nine quarters and remain confident that this growth trend will continue. Executing on our approved development plans and using reasonable assumptions for commodity prices, our operations could show sequential quarterly growth in revenue and EBITDA in 2013. As I mentioned in our recent reserves press release, we are seeing dramatic benefits from our transformation to a more oily company. Our EBITDA margin per Boe expanded once again to $39.08 from $36.73 last quarter and from $24.55 for the fourth quarter of 2011. Our EBITDA margin came in at 80% this quarter, even higher than the 74% reported for the fourth quarter of 2011.”

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