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Civitas Resources (CIVI)
NYSE:CIVI
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.96Last Year’s EPS
$2.19Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -18.96%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Positive
Civitas Resources had a strong third quarter with robust financial results, significant capital returns to shareholders, and operational efficiency improvements. However, they faced challenges with oil volume constraints and commodity price volatility, particularly impacting natural gas realizations. Overall, the company's strategic focus on capital efficiency and expansion of high-quality inventory positions them well for future growth.Company Guidance
During the Q3 2024 earnings call, Civitas Resources provided detailed guidance and performance metrics for the quarter, as well as expectations for the fourth quarter. Adjusted EBITDA was reported at $910 million, driven by strong sales volumes and cost control. The company returned $227 million to shareholders in the quarter, with a variable return of capital totaling $104 million. Moving forward, Civitas plans to shift 100% of its variable return to share buybacks, completing these repurchases in October, and aims to reduce debt with 50% of its free cash flow. The company's production in October averaged 165,000 barrels per day, with a 3% increase in oil volumes expected in Q4. Capital investments reflect a shift towards more efficient operations, with initiatives such as simul fracs in the Permian yielding a 30% uplift in daily fluid throughput. Additionally, Civitas identified 120 Wolfcamp D locations with mid-$40 oil breakevens, highlighting the company's strategic focus on capital efficiency and high-return opportunities across its diversified portfolio.Strong Financial Results
Civitas Resources reported a solid third quarter with an adjusted EBITDA of $910 million, driven by strong sales volumes, favorable oil differentials, and effective cost control.
Significant Capital Returns
The company returned $227 million to shareholders in the third quarter, including $104 million through share buybacks.
Operational Efficiency in Permian
The implementation of simul fracs in the Permian showed a more than 30% uplift in daily fluid throughput, with well costs trending lower due to reduced cycle times and improved designs.
Positive Developments in DJ Basin
Civitas reported strong performance in the DJ Basin, with new wells like the Blue 4AH well setting records with 90-day cumulative production of 165,000 barrels of oil.
Ground Game Success
The company's 'ground game' added more than 75 gross locations in the Permian year-to-date, contributing to the expansion of high-quality inventory.
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CIVI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CIVI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $52.85 | $52.95 | +0.19% |
| Aug 01, 2024 | $64.56 | $58.18 | -9.88% |
| May 02, 2024 | $66.37 | $71.03 | +7.02% |
| Feb 27, 2024 | $59.98 | $62.22 | +3.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Civitas Resources (CIVI) report earnings?
Civitas Resources (CIVI) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is Civitas Resources (CIVI) earnings time?
Civitas Resources (CIVI) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CIVI EPS forecast?
CIVI EPS forecast for the fiscal quarter 2024 (Q4) is $1.96.
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