Bonanza Creek: Q1 Earnings Snapshot
DENVER (AP) _ Civitas Resources, Inc. (CIVI) on Wednesday reported first-quarter net income of $91.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Denver-based company said it had profit of $1.07. Earnings, adjusted for one-time gains and costs, were $2.51 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.81 per share.
The oil and gas company posted revenue of $817.8 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $641.8 million.