Civitas Resources reports Q2 EPS $1.34, consensus $1.08

Reports Q2 revenue $1.06B, consensus $1.1B. Interim CEO Wouter van Kempen commented, “Our second quarter results demonstrate the decisive steps we have taken to strengthen Civitas’ operating performance and financial position. Year-to-date, we’ve improved field-level execution, captured sustainable cost savings, reduced risk through hedging, optimized our capital structure, and accelerated value through non-core divestments, resulting in a stronger and more durable Civitas. With high confidence in our operating plan, including reaching our $4.5 billion debt target around the end of the year, we are reinstating an aggressive capital return program to take advantage of the compelling value we see in our equity today.”