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

Published on 29 Feb 2024 on Zacks via Yahoo Finance

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.

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