Published on 29 Feb 2024 on Zacks via Yahoo Finance
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.