Granite Ridge Resources reports Q1 adjusted EPS 22c, consensus 20c

Reports Q1 revenue $122.93M, consensus $118.38M. Luke Brandenberg, President and CEO of Granite Ridge, commented, “Our first quarter results highlight the quality of our asset base, the consistency of our execution, and the advantages of our diversified, capital-efficient model. We achieved 23% year-over-year daily production growth and generated $91 million in Adjusted EBITDAX, exceeding our internal forecasts. This success was primarily driven by strong new well performance and favorable timing across multiple basins.”