Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings and revenues for Civitas Resources in the upcoming earnings report, with actual results being crucial for stock price movement [1][3]. Earnings Expectations - Civitas is expected to report quarterly earnings of $1.17 per share, reflecting a year-over-year decrease of 43.2% [3]. - Revenues are projected to be $1.14 billion, down 13.4% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 2.84% higher in the last 30 days, indicating a reassessment by analysts [4]. - Civitas has a negative Earnings ESP of -3.99%, suggesting recent bearish sentiment among analysts regarding the company's earnings prospects [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict deviations from consensus estimates, with positive readings being more reliable [9][10]. - Civitas currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat [12]. Historical Performance - In the last reported quarter, Civitas exceeded earnings expectations with a surprise of +5.36% [13]. - Over the past four quarters, the company has beaten consensus EPS estimates twice [14]. Conclusion - Civitas does not appear to be a strong candidate for an earnings beat, and investors should consider other factors when evaluating the stock ahead of the earnings release [17].
Earnings Preview: Civitas Resources (CIVI) Q2 Earnings Expected to Decline