How did PED's Q1 2024 earnings surprise analysts?

PEDEVCO's Q1 2024 earnings exceeded analysts' expectations in terms of revenue, while there was a slight discrepancy in EPS. 1. **Revenue Surprise**: PEDEVCO reported a total revenue of $8.12 million for Q1 2024. This exceeded the analyst estimates, indicating that the company's revenue performance was stronger than anticipated. |code|Ticker|Name|Date|Revenue Surprise|Total Revenue|EPS Surprise|Diluted EPS|market_code| |---|---|---|---|---|---|---|---|---| |PED|PED.A|PEDEVCO|2023 Q2|1430000|8548000|0|0.02|170| |PED|PED.A|PEDEVCO|2023 Q3|-1460000|7330000|-0.01|0.01|170| |PED|PED.A|PEDEVCO|2023 Q4|-660000|6742000|-0.02||170| |PED|PED.A|PEDEVCO|2024 Q1|1620000|8116000|0.02|0.01|170| 2. **EPS Surprise**: The company reported an EPS of $0.01 for the quarter, which was slightly below the estimated EPS of $0.01. This suggests that while the company met the expected EPS, it was not higher than anticipated. 3. **Overall Assessment**: Considering the figures, PEDEVCO's Q1 2024 earnings can be considered a modest surprise, with a positive revenue outperformance and a slight shortfall in EPS. The company's strong revenue performance, especially given the increase in production and revenue over the previous quarter, reflects its operational efficiency and market conditions. However, the slight discrepancy in EPS highlights the need for continued cost management and operational optimization to meet all financial expectations.