Amplify Energy (US:AMPY) ZACKSยท2024-11-07 00:30Group 1: Earnings Performance - Amplify Energy reported quarterly earnings of $0.54 per share, exceeding the Zacks Consensus Estimate of $0.32 per share, compared to a loss of $0.34 per share a year ago, representing an earnings surprise of 68.75% [1] - The company posted revenues of $69.86 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 11.43%, and down from $76.77 million year-over-year [2] Group 2: Stock Performance and Outlook - Amplify Energy shares have increased approximately 13.5% since the beginning of the year, while the S&P 500 has gained 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.40 on revenues of $82.34 million, and for the current fiscal year, it is $0.65 on revenues of $317.01 million [7] Group 3: Industry Context - The Oil and Gas - Exploration and Production - United States industry is currently ranked in the bottom 8% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5][6]