Civitas: Q1 Earnings Snapshot

Civitas Resources, Inc. reports a loss in the fourth quarter.

DENVER, DENVER, AP -- Civitas Resources, Inc., (CIVI), reported a net profit of $202.5 millions for the first quarter.

The Denver-based firm reported a profit per share of $2.46. The adjusted earnings per share, which include non-recurring gains were $2.25.

The results exceeded Wall Street expectations. Zacks Investment Research surveyed four analysts and found that the average estimate was $2.01 per share.

The company's revenue for the quarter was $656 million, which is less than expected by analysts. Zacks surveyed five analysts who expected $669.6 millions.

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