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Bonanza Creek: Q1 Earnings Snapshot

May 4, 2022 GMT

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CIVI at https://www.zacks.com/ap/CIVI