Callon (CPE) Q4 Earnings Miss Estimates, Revenues Fall Y/Y

Callon Petroleum Company (CPE) reported fourth-quarter 2023 adjusted earnings of $1.62 per share, which missed the Zacks Consensus Estimate of $1.74. The bottom line declined from the $3.36 reported a year ago.Operating revenues of $601.4 million beat the Zacks Consensus Estimate of $563 million. However, the top line declined from the year-ago quarter’s $704.2 million.The weak quarterly earnings were driven by lower realized oil equivalent prices and production volumes.ProductionIn the fourth quarter, CPE’ ...