Granite Ridge Resources, Inc. (GRNT) Expected to Beat Earnings Estimates: Should You Buy?

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Granite Ridge Resources, Inc. (GRNT) despite higher revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The upcoming earnings report is expected to show earnings of $0.14 per share, reflecting a 30$107.15 million, a slight increase of 0.3% from the previous year [3]. - The consensus EPS estimate has been revised 19.35% higher in the last 30 days, indicating a positive reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates a positive Earnings ESP of +11.11% for Granite Ridge Resources, suggesting a likelihood of beating the consensus EPS estimate [10][11]. - The company holds a Zacks Rank of 2 (Buy), further supporting the expectation of an earnings beat [11]. Historical Performance - In the last reported quarter, Granite Ridge Resources exceeded the expected earnings of $0.13 per share by delivering$0.14, resulting in a surprise of +7.69% [12]. - Over the past four quarters, the company has surpassed consensus EPS estimates in two instances [13]. Industry Context - In the Zacks Oil and Gas - Exploration and Production - United States industry, Amplify Energy is expected to report earnings of $0.25 per share, reflecting a significant year-over-year decline of 76.6$80.09 million, up 1.4% [17]. - Amplify Energy's consensus EPS estimate has been revised 30.8% higher recently, but it has an Earnings ESP of 0.00%, making predictions about beating the consensus EPS estimate uncertain [18].