Q: Hi there, what is expected of PEY and LGN for 3Q?
Also, your thoughts of 3Q results for both, after they report today and tomorrow?
Thanks!
Also, your thoughts of 3Q results for both, after they report today and tomorrow?
Thanks!
5i Research Answer:
PEY is expected to report 43c in EPS on $300M in revenue.
LGN reported 1c in EPS, vs estimates of 1.2c; revenue of $46.2M beat estimates by 2%. EBITDA of $32.5M was marginally lower than estimates. Production rose 25% sequentially and up 51% year over year. Netbacks rose 20% from last year. Cash flow per share was 5c; debt is now less than 1X cash flow. We like the numbers, especially the growth in production (which is what the company can control).