Crescent Energy Full Year 2024 Earnings: EPS Misses Expectations

Crescent Energy (NYSE:CRGY) Full Year 2024 Results

Key Financial Results

• Revenue: US$2.93b (up 23% from FY 2023).
• Net loss: US$114.6m (down by 270% from US$67.6m profit in FY 2023).
• US$0.88 loss per share (down from US$1.02 profit in FY 2023).

CRGY Production and Reserves

Oil reserves

• Proven reserves: 297.69 MMbbls.

Gas reserves

• Proven reserves: 1595.059 Bcf.

LNG reserves

• Proven reserves: 145.716 MMbbls.

Combined production

• Oil equivalent production: 73.637 MMboe (54.533 MMboe in FY 2023).

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

Crescent Energy EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates.

In the last 12 months, the only revenue segment was Exploration and Production of Crude Oil,Natural Gas and Ngls contributing US$2.93b. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$949.5m (54% of total expenses). Explore how CRGY's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are down 10% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for Crescent Energy that you need to take into consideration.

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