Callon Petroleum Earnings: Here’s Why Shares are Up Now

Callon Petroleum Co. (NYSE:CPE) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.35%.

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Callon Petroleum Co. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $0.00 in the quarter versus EPS of $0.01 in the year-earlier quarter.

Revenue: Decreased 23.18% to $22.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Callon Petroleum Co. reported adjusted EPS of $0 per share. By that measure, the company beat the mean analyst estimate of $-0.03. It missed the average revenue estimate of $23.15 million.

Quoting Management: There was no comment from management.

Key Stats (on next page)…

Revenue decreased 21.55% from $28.68 million in the previous quarter. EPS decreased to $0.00 in the quarter versus EPS of $0.01 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.02 to a loss $0.02. For the current year, the average estimate has moved down from a profit of $0.18 to a loss of $0.08 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

More Articles About:   , ,  

More from The Cheat Sheet