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Investing.com -- Crescent Energy Company (NYSE:CRGY) reported first quarter 2025 earnings that exceeded analyst expectations, driving shares up 5.4% in response to the positive results.
The oil and gas company posted adjusted earnings per share of $0.56, beating the analyst consensus of $0.48 by $0.08. Revenue for the quarter came in at $950.17 million, surpassing estimates of $941.57 million and representing a 1% increase YoY.
Crescent Energy delivered robust financial performance in Q1, with key metrics meeting or exceeding guidance. The company generated $337 million in operating cash flow and $242 million in levered free cash flow, implying an annualized yield of approximately 45%.
"Alongside impressive first quarter results, we are reiterating our commitment to cash flow, risk management and returns," said Crescent CEO David Rockecharlie. "At Crescent, we are a team with compelling advantages that come from combining strong investing and operating skills."
Production averaged a record 258,000 barrels of oil equivalent per day in Q1, approximately 40% oil and 58% liquids. The company drilled 41 gross operated wells and brought 40 wells online during the quarter.
Crescent Energy updated its full-year 2025 production guidance to 251,000-261,000 barrels of oil equivalent per day, reflecting recent non-core asset divestitures totaling approximately $90 million year-to-date.
The company’s board approved a Q1 cash dividend of $0.12 per share, payable on June 2 to shareholders of record as of May 19. Crescent has also repurchased about $30 million of shares in 2025 at an average price of $8.26.
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