Granite Ridge Resources Inc reports results for the quarter ended December 31 - Earnings Summary

• Granite Ridge Resources Inc GRNT.N reported quarterly adjusted earnings of 17 cents​​ per share for the quarter ended December 31, lower than the same quarter last year, when the company reported EPS of 20 cents. The mean expectation of six analysts for the quarter was for earnings of 13 cents per share. Wall Street expected results to range from 12 cents to 14 cents per share.

• Revenue fell 0.5% to $106.31 million from a year ago; analysts expected $100.01 million.

• Granite Ridge Resources Inc's reported EPS for the quarter was a loss of 9 cents​.

• The company reported a quarterly loss of $11.62 million.

• Granite Ridge Resources Inc shares had fallen by 13.2% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.6% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the oil & gas exploration and production peer group is also "buy"

Wall Street's median 12-month price target for Granite Ridge Resources Inc is $7.50

This summary was machine generated from LSEG data March 6 at 10:36 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)