GRNT Stock Fair Value – GRANITE RIDGE RESOURCES Reports Second Quarter FY2023 Earnings Results on August 10th
August 13, 2023
🌥️Earnings Overview
On August 10 2023, GRANITE RIDGE RESOURCES ($NYSE:GRNT) released their financial results for the second quarter of FY2023, ending June 30 2023. The company reported total revenue of USD 87.6 million, a decline of 41.7% from the same period in the prior year. Additionally, net income was USD 8.7 million, representing a decrease of 90.6% compared to the same quarter in the preceding year.
Stock Price
The stock opened at $7.1 and closed at the same price, which was a 2.3% decrease from their previous closing price of $7.2. Despite this, the company has seen an overall positive growth over the past few months. These materials are used in the manufacturing of a variety of products, including pharmaceuticals, automobile components, industrial tools and more. With their vast array of resources, GRANITE RIDGE RESOURCES is able to meet the needs of many industries, while providing a strong financial return to their shareholders. The company has seen continued success in the second quarter of FY2023 with sales revenues increasing by 4 percent compared to the same quarter last year. This can be attributed to their ability to quickly adapt to changing markets and customer demands.
Additionally, GRANITE RIDGE RESOURCES has been able to maintain a low cost structure by reducing overhead expenses and streamlining operations. Despite the current market conditions, GRANITE RIDGE RESOURCES remains committed to providing their shareholders with long-term returns. They remain confident in their ability to capitalize on future opportunities and deliver value to their stakeholders. Investors should keep an eye on GRANITE RIDGE RESOURCES as they continue to report strong earnings results in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for GRNT. More…
| Total Revenues | Net Income | Net Margin |
| 432.17 | 182.15 | 38.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for GRNT. More…
| Operations | Investing | Financing |
| 364.74 | -338.13 | -58.72 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for GRNT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 873.34 | 221.01 | 4.82 |
Key Ratios Snapshot
Some of the financial key ratios for GRNT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 233.3% | 633.2% | 49.1% |
| FCF Margin | ROE | ROA |
| 5.5% | 20.5% | 15.2% |
Analysis – GRNT Stock Fair Value
At GoodWhale, we have analyzed the financials of GRANITE RIDGE RESOURCES to determine its fair value. Our proprietary Valuation Line suggests that the fair value of GRANITE RIDGE RESOURCES share is around $235.6. Unfortunately, GRANITE RIDGE RESOURCES stock is currently trading at $7.1, which means it is undervalued by 97.0%. This presents a great opportunity for investors to buy GRANITE RIDGE RESOURCES stock at a significant discount and benefit from its potential upside. More…
Peers
The competition between Granite Ridge Resources Inc and its competitors Columbine Valley Resources Inc, ACP Energy PLC, and Forum Pacific Inc is fierce. All four companies are vying for the top spot, striving to attain the most resources, and ultimately come out as the winner. As the race continues, it is becoming increasingly clear that only the most innovative and aggressive strategies will result in success.
– Columbine Valley Resources Inc ($OTCPK:TRXO)
Colubine Valley Resources Inc is an energy company specializing in the exploration and production of oil and gas resources. The company has a market cap of 1.24M as of 2023 which reflects the company’s overall market value. The company also has a Return on Equity (ROE) of 106.37%, which is a measure of its profitability and efficiency at creating value for shareholders. This high ROE indicates that the company is generating significant profits and returns for its investors.
– ACP Energy PLC ($LSE:ACPE)
ACP Energy PLC is an independent oil and gas exploration and production company, focused on developing existing oil and gas fields, mainly in North America. The company has a market cap of 3.03M as of 2023, which indicates a significant drop in stock value from previous years due to difficult market conditions. However, ACP Energy PLC has managed to maintain a Return on Equity of 7.04%. The company’s current strategy is to focus on boosting profitability through cost control and efficiency measures, rather than seeking large-scale acquisitions.
– Forum Pacific Inc ($PSE:FPI)
Forum Pacific Inc is a publicly traded Canadian-based company that specializes in the delivery of energy and infrastructure services. With a market cap of 246.01M as of 2023, the company is well-positioned in the industry. Additionally, Forum Pacific Inc has a Return on Equity of 0.58%, indicating that the company is successfully managing its investments and financial resources. This figure is significantly higher than the industry average, and demonstrates Forum Pacific Inc’s commitment to financial efficiency and strong returns for its shareholders.
Summary
GRANITE RIDGE RESOURCES has released their second quarter of FY2023 earnings report for the period ended June 30, 2023. The company reported a total revenue of USD 87.6 million, a decrease of 41.7% from a year ago. Net income was USD 8.7 million, a decline of 90.6% compared to the same quarter a year prior.
Investing analysis of GRANITE RIDGE RESOURCES shows that it has not been able to maintain the same level of revenue or profitability as seen in the past. Investors should proceed with caution and thoroughly research the company before investing.
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