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Denbury Resources Inc. (NYSE:DNR) 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 1.08%.
Denbury Resources Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 20% to $0.36 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Decreased 1.31% to $609.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Denbury Resources Inc. reported adjusted EPS income of $0.36 per share. By that measure, the company beat the mean analyst estimate of $0.29. It beat the average revenue estimate of $573.86 million.
Quoting Management: Phil Rykhoek, Denbury’s President and CEO, commented, “We finished 2012 with solid operational and financial performance as fourth quarter 2012 adjusted net income per diluted share increased by 9% from that in the third quarter of 2012 despite the expected decline in production caused by the sale of our Bakken area assets. The sequential improvement reflects continued strong execution in our core tertiary operations, the benefit of our high exposure to premium Gulf Coast region oil pricing, and a lower average diluted share count as a result of the stock repurchases made during the third and fourth quarter.”
Key Stats (on next page)…
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