Cimarex Energy Co. Earnings: Here’s Why Investors are Excited 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 1.29%.

Cimarex Energy Co. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 13.87% to $1.18 in the quarter versus EPS of $1.37 in the year-earlier quarter.

Revenue: Rose 2.47% to $440.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Cimarex Energy Co. reported adjusted EPS income of $1.18 per share. By that measure, the company beat the mean analyst estimate of $1.01. It beat the average revenue estimate of $430.23 million.

Quoting Management:“We are pleased to announce record fourth quarter and full year results. These results demonstrate the benefits of the operating leverage we have built into our business model, which we expect will continue yielding strong results as North American automotive sales continue to recover. We expect the recovery of automotive sales to continue in 2013 due to the increasing average age of vehicles in the U.S., extremely attractive financing rates, and the availability of exciting new products.”

Key Stats (on next page)…