Amplify Energy (AMPY) Q4 Earnings and Revenues Surpass Estimates

Core Insights - Amplify Energy (AMPY) reported quarterly earnings of $1.07 per share, significantly exceeding the Zacks Consensus Estimate of $0.21 per share, and up from $0.74 per share a year ago, representing an earnings surprise of 409.52% [1] - The company generated revenues of $78.99 million for the quarter ended December 2023, surpassing the Zacks Consensus Estimate by 7.71%, although this is a decline from year-ago revenues of $98.95 million [1] - Over the last four quarters, Amplify Energy has exceeded consensus revenue estimates four times and EPS estimates two times [1] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.22 on revenues of $75.5 million, and for the current fiscal year, it is $1.30 on revenues of $319.61 million [4] - The estimate revisions trend for Amplify Energy is currently unfavorable, resulting in a Zacks Rank 5 (Strong Sell), indicating expected underperformance in the near future [4] Industry Context - The Oil and Gas - Exploration and Production - United States industry is currently in the bottom 10% of over 250 Zacks industries, suggesting a challenging environment for stocks in this sector [5] - Empirical research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than a factor of 2 to 1 [5]