Crescent Energy Co-Crescent Energy (CRGY) Q3 Earnings Top Estimates

Earnings Performance - Crescent Energy reported quarterly earnings of $0 39 per share, beating the Zacks Consensus Estimate of$ 0 28 per share, representing a 39 29% earnings surprise [1] - The company's earnings per share (EPS) increased from $0 35 per share a year ago [1] - Over the last four quarters, the company has surpassed consensus EPS estimates four times [2] Revenue Performance - Crescent Energy posted revenues of$ 744 87 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 6 17% [2] - This compares to year-ago revenues of $642 4 million, showing a year-over-year increase [2] - The company has topped consensus revenue estimates three times over the last four quarters [2] Stock Performance - Crescent Energy shares have lost about 7 2% since the beginning of the year, underperforming the S&P 500's gain of 20 1% [3] - The stock's immediate price movement will depend on management's commentary on the earnings call [3] Earnings Outlook - The current consensus EPS estimate is$ 0 36 on $912 23 million in revenues for the coming quarter [7] - For the current fiscal year, the consensus EPS estimate is$ 1 36 on $3 01 billion in revenues [7] - The estimate revisions trend for Crescent Energy is currently unfavorable, translating into a Zacks Rank 5 (Strong Sell) [6] Industry Context - Crescent Energy belongs to the Zacks Alternative Energy - Other industry, which is currently in the bottom 28% of the 250 plus Zacks industries [8] - The top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Comparison - ReNew Energy Global PLC (RNW), another company in the same industry, is expected to post quarterly earnings of$ 0 14 per share, representing a year-over-year change of +27 3% [9] - ReNew Energy Global PLC's revenues are expected to be $346 96 million, up 0 6% from the year-ago quarter [9]