Civitas Solutions (CIVI) Misses Q3 EPS by 103c; offers outlook

Civitas Solutions (NYSE: CIVI) reported Q3 EPS of $1.56, $1.03 worse than the analyst estimate of $2.59. Revenue for the quarter came in at $1.04 billion versus the consensus estimate of $1.02 billion.

OUTLOOK

The Company is increasing the mid-point of its 2023 production and also adjusting its expected capital expenditure guidance to account for additional net drilling and completion activity resulting from acquired working interests, incremental non-operated development, and faster drilling times on extended reach wells in the DJ Basin.

The Company\'s outlook for 2024 remains unchanged and assumes a January 1, 2024 closing date for the previously announced Vencer Energy acquisition.

For earnings history and earnings-related data on Civitas Solutions (CIVI) click here.

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