Cimarex Energy Earnings: Here’s Why Shares are Up Now
Cimarex Energy Co. (NYSE:XEC) 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 0.52%.
Cimarex Energy Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 73.42% to $1.37 in the quarter versus EPS of $0.79 in the year-earlier quarter.
Revenue: Rose 39.84% to $493.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cimarex Energy Co. reported adjusted EPS income of $1.37 per share. By that measure, the company beat the mean analyst estimate of $1.27. It beat the average revenue estimate of $473.19 million.
Key Stats (on next page)…
Revenue increased 15.82% from $426.36 million in the previous quarter. EPS increased 29.25% from $1.06 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.29 to a profit $1.32. For the current year, the average estimate has moved up from a profit of $4.96 to a profit of $5.06 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)