Granite Ridge Resources reports Q4 adjusted EPS 17c, consensus 14c

Reports Q4 revenue $106.3M, consensus $100.68M. Luke Brandenberg, President and CEO of Granite Ridge, commented, “Granite Ridge concluded 2024 with outstanding performance across our portfolio, achieving a corporate record for total production driven by a 10% increase over the third quarter. Our disciplined investment strategy enabled us to efficiently deploy capital, completing 86 gross wells and executing nearly two dozen transactions across the Permian and Appalachian basins. These actions have bolstered our asset base while maintaining financial flexibility, as demonstrated by our strong liquidity position at year-end and conservative leverage of 0.7x Net Debt to Adjusted EBITDAX.”