Q: hi, thoughts on Q3 results for Surge energy, and going forward...would U rate it a Buy/Hold/Sell....thx, jb
5i Research Answer:
Revenue of $162M missed estimates of $171M. EBITDA of $79.4M missed estimates of $84.5M. Cash flow year over year fell to $72.7M from $86.9M. Production of 23,795 b/d was very close to estimates. Per share cash flow was 71c vs 86c. SGY bought back $4M in shares. While it was a 'miss' the company is in very solid financial shape and strong growth is still expected for 2025. We would rate it a HOLD with an accumulate into any more weakness.