Riley Exploration Permian Inc Up 14.79% To $27.63 After Earnings Miss

Thursday, March 7, 2024 - Riley Exploration Permian Inc (REPX) reported downside earnings and upside revenues.

The consensus among analysts for Riley Exploration Permian Inc was for an earnings per share (EPS) of $1.60. The firm failed to meet those projections, reporting an EPS of $0.70, a negative surprise of $0.9 (-56%). Profits fell 49% year-over-year after reporting an EPS of $1.36 in its year-ago quarter. The negative growth rate signals that the Energy company isn't performing well amid current economic conditions.

Revenues were upbeat at $99.8 million. That is an increase of 27.91% in revenues from the year-ago report and is 5.36% higher than consensus estimates set at $94.8 million.

The stock is up 14.79% to $27.63 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 34. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Riley Exploration Permian Inc is engaged in the business of exploration for and production of oil and natural gas. The company operations are in Kansas Properties, Tennessee Properties, among others.