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Crescent Point Energy Third Quarter 2022 Earnings: EPS Beats Expectations, Revenues Lag

Crescent Point Energy (TSE:CPG) Third Quarter 2022 Results

Key Financial Results

  • Revenue: CA$970.5m (up 32% from 3Q 2021).

  • Net income: CA$466.4m (up by CA$388.9m from 3Q 2021).

  • Profit margin: 48% (up from 11% in 3Q 2021). The increase in margin was primarily driven by higher revenue.

  • EPS: CA$0.83 (up from CA$0.13 in 3Q 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Crescent Point Energy EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 19%. Earnings per share (EPS) exceeded analyst estimates by 71%.

Looking ahead, revenue is forecast to decline by 5.8% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Canada are expected to remain flat.

Performance of the Canadian Oil and Gas industry.

The company's shares are up 5.6% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Crescent Point Energy (1 doesn't sit too well with us!) that you need to be mindful of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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