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Crescent Energy Company Class A (CRGY)
NYSE:CRGY
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.47Last Year’s EPS
$0.3Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 10.14%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Positive
Crescent Energy demonstrated strong financial and operational performance with record production, successful integration of acquisitions, and cost efficiencies. Despite some challenges such as commodity price volatility and a slower gas market, the company has maintained its focus on flexibility and growth. The outlook remains positive as Crescent continues to execute its strategy effectively.Company Guidance
During Crescent Energy's third-quarter 2024 earnings call, the company provided updated guidance and highlighted significant achievements. Crescent raised its production guidance for the year and reported record production of 219,000 barrels of oil equivalent per day. The integration of the SilverBow business has yielded approximately $65 million in annualized synergies, surpassing initial targets by over 20%. The company achieved approximately $430 million in adjusted EBITDA and approximately $160 million in levered free cash flow, with capital expenditures totaling $211 million. Crescent also optimized its D&C activity to focus on higher-returning, liquids-weighted development, resulting in a 10% improvement in the second-half capital outlook. The company maintains a strong balance sheet with net leverage at 1.5x and $1.5 billion in liquidity. Crescent reaffirmed its commitment to a growth-through-acquisition strategy, emphasizing operational efficiencies and long-term shareholder value.Raised Outlook and Production Guidance
Crescent has raised its outlook for the year for the third consecutive quarter, reaffirming production guidance with more efficient capital spending and increased free cash flow.
SilverBow Integration Success
The integration of the SilverBow business has yielded approximately $65 million in annualized synergies, exceeding initial expectations, and synergy targets have been increased by more than 20%.
Record Production
Crescent reported record production of 219,000 barrels of oil equivalent per day this quarter, with only 2 months of SilverBow contribution.
Strong Financial Performance
Approximately $430 million of adjusted EBITDA and $160 million in levered free cash flow were achieved in the quarter.
Cost Reductions
Well costs have been reduced by 10% relative to the first half of the year, and there have been additional operational efficiencies.
Dividend and Share Buyback
Announced another dividend of $0.12 per share and further repurchases, with the buyback program now 20% utilized year-to-date.
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CRGY 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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CRGY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $12.42 | $12.84 | +3.38% |
| Aug 05, 2024 | $9.99 | $10.00 | +0.10% |
| May 06, 2024 | $10.47 | $11.52 | +10.03% |
| Mar 04, 2024 | $10.68 | $11.46 | +7.30% |
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 Crescent Energy Company Class A (CRGY) report earnings?
Crescent Energy Company Class A (CRGY) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is Crescent Energy Company Class A (CRGY) earnings time?
Crescent Energy Company Class A (CRGY) 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 CRGY EPS forecast?
CRGY EPS forecast for the fiscal quarter 2024 (Q4) is $0.47.
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