Alta Mesa Resources (AMR) Tops Q4 EPS by $1.87

Alta Mesa Resources (NYSE: AMR) reported Q4 EPS of $13.30, $1.87 better than the analyst estimate of $11.43. Revenue for the quarter came in at $828.22 million versus the consensus estimate of $725.75 million.

Alpha also announced today that its board of directors authorized a share repurchase program allowing for the expenditure of up to $150 million for the repurchase of the company's common stock. Repurchases will be made from time to time in accordance with applicable securities laws in the open market, and may include repurchases pursuant to Rule 10b5-1 trading plans. The share repurchase program is effective immediately and repurchases may begin as soon as March 9th, 2022.

The repurchase program does not obligate the company to acquire any particular amount of common stock or to acquire shares on any particular timetable, and the program may be suspended at any time at the company's discretion. The timing and amount of share repurchases will be determined by the company's management based on its evaluation of market conditions, the trading price of the stock, applicable legal requirements, compliance with the provisions of the company's debt agreements, and other factors.

For earnings history and earnings-related data on Alta Mesa Resources (AMR) click here.

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