Crescent Energy Co (CRGY) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Company Participants Reid Gallagher - Director - Investor RelationsDavid Rockecharlie - Chief Executive OfficerBrandi Kendall - CFO & DirectorOliver Huang - DirectorClay Rynd - Executive Vice President, InvestmentsJohn Freeman - Managing DirectorMichael Scialla - Managing DirectorCarlos Escalante - Senior AssociateMichael Furrow - Vice PresidentArun Jayaram - Vice PresidentNevin Athwal - Executive Director Conference Call Participants ...

Crescent Energy Co (CRGY) Q1 2025 Earnings Call May 06, 2025 11:00 AM ET Speaker0 Greetings, and welcome to the Crescent Energy Q1 twenty twenty five Results Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It's now my pleasure to introduce your host, Reed Gallagher, Investor Relations. Thank you. You may begin. Speaker1 Good Speaker2 morning, and thank you for joini ...

Group 1 - The article focuses on analyzing oil and gas companies, particularly Crescent Energy, to identify undervalued opportunities in the sector [1] - Cash flow is emphasized as a significant priority for management in the oil and gas industry, which is characterized as a cyclical boom-bust market [2] - The analysis includes a breakdown of balance sheets, competitive positions, and development prospects of companies in the oil and gas space [1] Group 2 - The author has a beneficial long position in Crescent Energy shares, indicating a personal investment interest in the company [3] - The article is not intended as investment advice, and investors are encouraged to conduct their own research [4] - Seeking Alpha clarifies that past performance does not guarantee future results and that the views expressed may not reflect the platform's overall stance [5]

Core Insights - Crescent Energy reported revenue of $950.17 million for the quarter ended March 2025, reflecting a 44.5% increase year-over-year [1] - The company's EPS was $0.56, up from $0.46 in the same quarter last year, with an EPS surprise of +19.15% compared to the consensus estimate of $0.47 [1] Financial Performance - Revenue exceeded the Zacks Consensus Estimate of $937.06 million, resulting in a surprise of +1.40% [1] - Average daily net sales volumes totaled 258 million barrels of oil equivalent, slightly below the analyst estimate of 259.04 million [4] - Natural gas sales volumes averaged 655 million cubic feet, slightly above the estimate of 652.47 million cubic feet [4] - Oil sales volumes averaged 102 million barrels, close to the estimate of 102.48 million barrels [4] - Natural gas liquids sales volumes averaged 47 million barrels, exceeding the estimate of 44.3 million barrels [4] Pricing Metrics - Average sales price per barrel for natural gas liquids was $25.43, above the estimate of $24.29 [4] - Average sales price per thousand cubic feet for natural gas was $3.18, compared to the estimate of $3.13 [4] - Average sales price per barrel for oil and condensate was $67.64, slightly above the estimate of $67.61 [4] - Average realized prices per barrel for natural gas liquids after derivative settlements were $25.13, exceeding the estimate of $24.25 [4] Revenue Breakdown - Revenues from natural gas reached $187.44 million, significantly above the estimate of $173.27 million, representing a year-over-year increase of +134.5% [4] - Revenues from oil were $619.66 million, slightly below the estimate of $637.78 million, with a year-over-year increase of +30.8% [4] - Revenues from natural gas liquids were $107.58 million, surpassing the estimate of $97.50 million [4] - Revenues from midstream and other operations totaled $35.50 million, above the estimate of $31.05 million [4] Stock Performance - Crescent Energy shares returned +10.2% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance in the near term [3]

Core Viewpoint - Crescent Energy (CRGY) reported quarterly earnings of $0.56 per share, exceeding the Zacks Consensus Estimate of $0.47 per share, and showing an increase from $0.46 per share a year ago, representing an earnings surprise of 19.15% [1][2] Financial Performance - The company posted revenues of $950.17 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.40%, and up from $657.47 million year-over-year [2] - Over the last four quarters, Crescent Energy has exceeded consensus EPS estimates four times and topped consensus revenue estimates two times [2] Stock Performance and Outlook - Crescent Energy shares have declined approximately 41% since the beginning of the year, compared to a decline of 3.3% for the S&P 500 [3] - The company's earnings outlook is uncertain, with current consensus EPS estimates at $0.26 for the upcoming quarter and $1.66 for the current fiscal year, with revenues expected to be $898.17 million and $3.7 billion respectively [7] Industry Context - The Alternative Energy - Other industry, to which Crescent Energy belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Crescent Energy's stock performance [5]

May 2025 Disclaimer The information in this presentation relates to Crescent Energy Company (the "Company," "Crescent," "we," "us," "our" or "CRGY") and contains information that includes or is based upon "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this presentation, including statements ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-41132 Crescent Energy Company (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...

Crescent Energy Company (CRGY) is set to report first-quarter 2025 results on May 5, after the closing bell.The Zacks Consensus Estimate for first-quarter earnings is pegged at 47 cents per share, implying an increase of 2.2% from the year-ago reported number. It witnessed two downward estimate movements in the past 30 days. The Zacks Consensus Estimate for first-quarter revenues is currently pegged at $937.1 million, suggesting a 42.5% uptick from the year-ago actuals. Image Source: Zacks Investment Resear ...

Core Viewpoint - Crescent Energy Company (CRGY) has seen its stock price decline over 50% since January, reflecting concerns over global recession and oil demand expectations, with the company underperforming its peers [1][4]. Company Overview - Crescent Energy is a Houston-based exploration and production firm focused on the Eagle Ford and Uinta basins, emphasizing free cash flow generation and disciplined capital allocation [4]. - The company owns approximately 74,000 net royalty acres and is involved in enhanced oil recovery projects, aiming for stable production and shareholder returns [4]. Recent Developments - In 2024, Crescent executed five acquisitions totaling over $3 billion, significantly expanding its Eagle Ford footprint and positioning itself among the top three producers in the basin [5]. - The company reported a 100% year-over-year increase in free cash flow, generating $259 million in Q4, exceeding Wall Street expectations [5]. - Crescent's production guidance for 2025 is set at 254,000–264,000 BOE/d, with planned capital spending of around $975 million [5]. Strategic Moves - The acquisition of SilverBow Resources has provided operational synergies, lower general and administrative costs, and better access to dry gas assets, enhancing Crescent's ability to navigate commodity price volatility [6]. - Management's capital allocation strategy includes opportunistic divestitures and selective mergers and acquisitions, balancing growth with financial prudence [6]. Challenges and Risks - EPS estimates for Crescent have declined sharply, with projections for 2025 and 2026 falling by approximately 22% and 27%, respectively, raising concerns over profitability and margin compression [8][9]. - The underperformance in the Uinta basin, despite promising initial results, poses a risk as the region remains underdeveloped and may become a capital drain [10]. - Crescent's current EV/EBITDA multiple of 3.04 is higher than its peers, raising questions about its valuation amidst execution risks and market unpredictability [11]. Conclusion - Despite Crescent Energy's expansion and improved free cash flow metrics, the stock faces significant execution risks and valuation concerns, making its future path less certain compared to peers [14].

The latest trading session saw Crescent Energy (CRGY) ending at $11.46, denoting a -1.63% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.08%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 0.52%.Heading into today, shares of the oil and gas company had lost 22.39% over the past month, lagging the Oils-Energy sector's loss of 1.36% and the S&P 500's loss of 7.33% in that time.Analysts and investors alike will be keeping a close eye on ...