Canadian Natural Resources Limited (NYSE:CNQ) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Canadian Natural Resources Limited Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 37.04% to $0.37 in the quarter versus EPS of $0.27 in the year-earlier quarter.
Revenue: Rose 3.12% to $4.1 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Canadian Natural Resources Limited reported adjusted EPS income of $0.37 per share. By that measure, the company missed the mean analyst estimate of $0.44. It missed the average revenue estimate of $9.13 billion.
Quoting Management: Steve Laut, President of Canadian Natural stated, “Overall this has been an excellent start to the year for Canadian Natural. Operationally it was a successful quarter, with record quarterly production of approximately 681,000 barrels of oil equivalent per day nearing the top end of our guidance and driven by record liquids production of approximately 489,000 barrels per day.”
Key Stats (on next page)…
Revenue increased 4.91% from $3.91 billion in the previous quarter. EPS increased 12.12% from $0.33 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.49 to a profit $0.44. For the current year, the average estimate has moved down from a profit of $2.22 to a profit of $2.08 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)