GRNT Earnings Prediction
The chart below shows how GRNT performed 10 days before and after its earnings report, based on data from the past quarters. Typically, GRNT sees a +1.66% change in stock price 10 days leading up to the earnings, and a +6.57% change 10 days following the report. On the earnings day itself, the stock moves by -0.21%. This data can give you a slight idea of what to expect for the next quarter's release.
GRNT Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
94.08M
-13.22%
3.78%
Gross Margin
46.33%
-10.87%
-0.43%
Operating Margin
26.54%
-15.77%
9.94%
Net Margin
9.62%
-41.91%
70.87%
EPS
0.07
-46.15%
75.00%
No Data Available
GRNT Earnings Analysis
Granite Ridge Resources, Inc. Corporation (GRNT.N) Earnings Conference Call
Positive
Production Increase Overview: 1. Production Growth: Average daily production reached 25,200 Boe per day, marking a 9% increase over the second quarter and a 5% increase from the third quarter last year.
Oil Volume Surge: 2. Oil Volume Increase: Oil volumes increased by 16% from the prior quarter to 12,700 Boe per day, raising the total oil percentage to 50% in the third quarter, up from 47% in the prior quarter.
Controlled Capital Efficiency: 3. Controlled Capital Success: Production from the Controlled Capital program exceeded targets by approximately 15%, with capital expenditures coming in about 15% under budget, demonstrating operational efficiency.
Quarterly EBITDAX Increase: 4. Strong Financial Performance: Adjusted EBITDAX for the quarter was $75.4 million, representing a 10% increase from the previous quarter despite a 6% decline in realized pricing on a Boe basis.
Dividend Consistency and Yield: 5. Consistent Dividend Payments: The company continued its quarterly cash dividend program, paying $0.11 per share in the third quarter, with another $0.11 per share cash dividend declared for December 2024, reflecting a 6.9% yield.
Negative
EBITDAX Decline Analysis: 1. Decline in Adjusted EBITDAX: Adjusted EBITDAX for Q3 2024 was $75.4 million, a 9% decrease year-over-year, primarily due to asset divestitures and lower realized pricing.
Production Guidance Update: 2. Lower Year-over-Year Production Guidance: Despite a 5% increase in average daily production from Q3 2023, the company reaffirmed its annual production guidance range of 23.3 to 25.3 Boe per day, indicating no growth from the previous year.
PDP Decline Rate Increase: 3. Increased PDP Decline Rate: The company's projected PDP decline rate has increased to approximately 40%, up from the high 30s a year ago, reflecting the impact of higher working interest wells in the Controlled Capital program.
Future Development Capital Needs: 4. Future Development Capital Requirements: The company added 15.9 net future drilling locations at a cost of $30.9 million, which are projected to require $125 million in future development capital, indicating significant future cash outflows.
Production Decline Forecast: 5. Expected Production Decline: The company anticipates a quarter-over-quarter gas production decline of up to 10% in Q4 2024, primarily due to the tapering off of flush production from new wells.
GRNT FAQs
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GRNT Earning Call Sentiment
Granite Ridge Resources, Inc. (GRNT) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
GRNT.N
-4.37%Positive
The earnings call reflects a mixed financial performance with positive elements such as increased production and cash dividends, but also highlights several risks including competitive pressures, regulatory issues, and potential production declines. The Q&A section reveals management's lack of clarity on key partnerships and future plans, adding to uncertainty. While some financial metrics are strong, the guidance remains weak, and there are concerns about economic factors affecting performance. Overall, the stock is likely to experience a negative reaction over the next two weeks due to these uncertainties and risks.
