Newfield Exploration Earnings Cheat Sheet: Profit Falls Short of Estimates

S&P 500 (NYSE:SPY) component Newfield Exploration Co. (NYSE:NFX) swung to a loss in the first quarter, missing analysts’ forecast. Newfield Exploration Co. acquires and explores natural gas and crude oil properties in the U.S. and abroad.

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Newfield Exploration Earnings Cheat Sheet for the First Quarter

Results: Swung to a loss of $17 million (13 cents/diluted share) in the quarter. The Newfield Exploration Co. had a net income of $244 million or $1.84 per share in the year earlier quarter.

Revenue: Rose 19% to $545 million YoY.

Actual vs. Wall St. Expectations: NFX (NYSE:NFX) fell short of the mean analyst estimate of 94 cents/share. Estimates ranged from 67 cents per share to $1.15 per share.

Key Stats:

The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 39.4%, with the biggest boost coming in the first quarter of the last fiscal year when revenue rose 74.8% from the year earlier quarter.

NFX’s loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $22 million in the fourth quarter of the last fiscal year, a profit of $161 million in the third quarter of the last fiscal year and $96 million in the second of the last fiscal year.

Competitors to Watch: Cabot Oil & Gas Corporation (NYSE:COG), Harvest Natural Resources (NYSE:HNR), Hess (NYSE:HES), Anadarko (NYSE:APC), EOG Resources (NYSE:EOG), Noble Energy (NYSE:NBL), GeoResources (NASDAQ:GEOI), Devon Energy (NYSE:DVN), Stone Energy (NYSE:SGY), Chesapeake (NYSE:CHK), Carrizo (NASDAQ:CRZO), United States Oil (NYSE:USO), United States Natural Gas (NYSE:UNG) and Forest Oil Corp. (NYSE:FST).

Today’s Performance: Shares of NFX (NYSE:NFX) are trading at $71.64 as of April 21, 2011 at 03:39 PM ET, down 1.27% from the previous closing price of $72.46.


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