Alta Mesa Resources (AMR) Misses Q1 EPS by 72c ; provides Outlook

Alta Mesa Resources (NYSE: AMR) reported Q1 EPS of $9.59, $0.72 worse than the analyst estimate of $10.31. Revenue for the quarter came in at $864.07 million versus the consensus estimate of $830.3 million.

Guidance:-
Alpha is increasing its full-year guidance for idle operations expense to between $25 million and $33 million, up from the previously announced range of $18 million to $28 million. Additionally, the company is reducing its 2024 tax rate guidance to a range of 10% to 15%, down from the prior range of 12% to 17%.

As of April 24, 2024, at the midpoint of guidance, Alpha has committed and priced approximately 49% of its metallurgical coal for the year at an average price of $168.26 per ton and 100% of thermal coal for the year at an average expected price of $76.10 per ton.

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

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