Cabot Oil & Gas Corporation (NYSE:COG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Cabot Oil & Gas Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 85.71% to $0.26 in the quarter versus EPS of $0.14 in the year-earlier quarter.
Revenue: Rose 37.17% to $373.29 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cabot Oil & Gas Corporation reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.24. It beat the average revenue estimate of $366.91 million.
Quoting Management: “The success of our drilling program in the Marcellus continues to drive record operating and financial metrics for the Company, including all-time highs for quarterly production, revenues, operating cash flows and discretionary cash flows, despite historically low realized natural gas prices,” said Dan O. Dinges, Chairman, President and Chief Executive Officer.
Key Stats (on next page)…
Revenue increased 0.92% from $369.88 million in the previous quarter. EPS decreased 3.7% from $0.27 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.27 to a profit $0.31. For the current year, the average estimate has moved up from a profit of $1.31 to a profit of $1.45 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)