Civitas Resources reports Q1 EPS $2.46, consensus $2.02

Reports Q1 operating revenue $656.02M, consensus $648.8M. Civitas CEO Chris Doyle said, "Civitas reported outstanding results again this quarter. Through ongoing capital discipline and a focus on generating cash, our production and cash flow exceeded expectations and our capital investments were slightly lower than expected. Our business plan is a proven value creator and is focused on four pillars: generating significant free cash flow, maintaining a premier balance sheet, returning cash to shareholders, and leading on ESG. We are delivering today across all of these categories and our shareholder return framework is differentiated with continued high payouts to our owners." During the first quarter of 2023, the Company reported average daily sales of 159.4 MBoe/d, of which 45% was crude oil, 31% was natural gas, and 24% was natural gas liquids