Noble Energy Earnings: Everything You Must Know Now

Noble Energy, Inc. (NYSE:NBL) 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.

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Noble Energy, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 15.43% to $1.48 in the quarter versus EPS of $1.75 in the year-earlier quarter.

Revenue: Decreased 1.89% to $1.14 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Noble Energy, Inc. reported adjusted EPS income of $1.48 per share. By that measure, the company beat the mean analyst estimate of $1.21. It beat the average revenue estimate of $1.08 billion.

Quoting Management: Charles D. Davidson, Noble Energy’s Chairman and CEO, commented, “The strong first quarter was an excellent start to 2013 and positions us to deliver on full year expectations. The Tamar project in Israel has begun production and is experiencing significant market demand with our primary customer already exercising an option for increased supply. Our second major project for this year, Alen in Equatorial Guinea, is on track for first production in the third quarter. Domestically, the DJ Basin continues to set production records driven by our horizontal drilling program. In addition, we continue with our exploration program and have several significant opportunities before us.”

Key Stats (on next page)…

Revenue decreased 1.55% from $1.16 billion in the previous quarter. EPS decreased 10.3% from $1.65 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 $1.43 to a profit $1.49. For the current year, the average estimate has moved up from a profit of $6.45 to a profit of $6.62 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)