Carrizo Oil & Gas Earnings: Here’s Why Shares are Up 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 0.77%.
Carrizo Oil & Gas Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20% to $0.54 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Rose 46.43% to $118.2 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 $0.44. It beat the average revenue estimate of $113.09 million.
Quoting Management: S.P. “Chip” Johnson, IV, President and CEO of Carrizo commented on the quarter’s results, “Strong performance in our Eagle Ford Shale and Niobrara Formation projects continues to drive outstanding Company results. Our focus on execution of our development plans allowed us to exceed both oil and gas production guidance while staying within our guidance for drilling and completion spending.”
Key Stats (on next page)…