Granite Ridge Resources, Inc. Q3 Profit Increases, But Misses Estimates

(RTTNews) - Granite Ridge Resources, Inc. (GRNT) released a profit for its third quarter that Increased from the same period last year but missed the Street estimates.

The company's bottom line totaled $14.52 million, or $0.11 per share. This compares with $9.05 million, or $0.07 per share, last year.

Excluding items, Granite Ridge Resources, Inc. reported adjusted earnings of $11.75 million or $0.09 per share for the period.

Analysts on average had expected the company to earn $0.14 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 19.8% to $112.67 million from $94.08 million last year.

Granite Ridge Resources, Inc. earnings at a glance (GAAP) :

-Earnings: $14.52 Mln. vs. $9.05 Mln. last year. -EPS: $0.11 vs. $0.07 last year. -Revenue: $112.67 Mln vs. $94.08 Mln last year.