Denbury (DEN) reported $328.98 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 31.8%. EPS of $1.06 for the same period compares to $1.69 a year ago.
The reported revenue represents a surprise of -5.86% over the Zacks Consensus Estimate of $349.47 million. With the consensus EPS estimate being $1.23, the EPS surprise was -13.82%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Denbury performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average daily production - BOE: 46.98 KBOE/D compared to the 47.35 KBOE/D average estimate based on four analysts.
Average daily production - natural gas: 8004 Mcf/D versus 7624.33 Mcf/D estimated by three analysts on average.
Average daily production - Oil: 45.65 BBL/D versus the three-analyst average estimate of 46.37 BBL/D.
Unit sales price per barrel-excluding hedges - oil: $72.59 versus $75.34 estimated by three analysts on average.
Unit sales price per mcf-excluding hedges - gas: $1.93 versus $1.55 estimated by two analysts on average.
Unit sales price per mcf-including hedges - gas: $1.93 compared to the $1.95 average estimate based on two analysts.
Revenues- Natural gas sales: $1.40 million versus the three-analyst average estimate of $1.17 million. The reported number represents a year-over-year change of -73.9%.
Revenues- Oil sales: $301.54 million versus $323.83 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -32.5% change.
View all Key Company Metrics for Denbury here>>>
Shares of Denbury have returned +1% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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