Centennial Resource Development (CDEV) Misses Q3 EPS by 6c, Revenues Miss

Centennial Resource Development (NASDAQ: CDEV) reported Q3 EPS of $0.15, $0.06 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $234.88 million versus the consensus estimate of $243.6 million.

“Centennial delivered another quarter of solid operating results driven by strong well performance and cost control. Our operations team continues to generate some of the best wells in the Permian Basin while maintaining one of the lowest unit cost profiles among Permian E&Ps,” said Mark G. Papa, Chairman and Chief Executive Officer. “Furthermore, we remain on track to achieve our 2018 production targets, while maintaining capital budget discipline. These early efforts should set us up to produce respectable GAAP ROE and ROCEs in 2020, assuming $75 per barrel WTI.”

For earnings history and earnings-related data on Centennial Resource Development (CDEV) click here.

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