Sable Offshore Corp reports results for the quarter ended June 30 - Earnings Summary

• Sable Offshore Corp SOC.N reported a quarterly adjusted loss of $1.11​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $-2.75. The mean expectation of five analysts for the quarter was for a loss of 68 cents per share. Wall Street expected results to range from -90 cents to -48 cents per share.

• Reported revenue was zero​; analysts expected zero.

• Sable Offshore Corp's reported EPS for the quarter was a loss of $1.40​.

• The company reported a quarterly loss of $128.07 million.

• Sable Offshore Corp shares had risen by 32.3% this quarter and gained 27.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1,952.2% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," no "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 Sable Offshore Corp is $40.00, about 27.3% above its last closing price of $29.09

This summary was machine generated from LSEG data August 12 at 11:59 a.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)