Noble Energy Earnings: Here’s Why Shares are Flat

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. Shares are up 0.11%.

Markets are at 5-year highs! Discover the best stocks to own. Click here for our fresh Feature Stock Pick now!

Noble Energy, Inc. Earnings Cheat Sheet

Results: Net income increased to $251 million ($1.65 per diluted share) in the quarter versus a net loss of $296 million in the year-earlier quarter.

Revenue: Rose 21.83% to $1.2 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Noble Energy, Inc. reported adjusted net income of $1.65 per share. By that measure, the company beat the mean analyst estimate of $1.14. It beat the average revenue estimate of $1.14 billion.

Quoting Management: Charles D. Davidson, Noble Energy’s Chairman and CEO, commented, “Delivering record quarterly cash flow of more than $800 million in the fourth quarter was an excellent culmination to an exciting year of growth for Noble Energy and has set the stage for an even better year in 2013. Record sales, with liquids accounting for 47 percent of the volumes, were a strong contributor to the quarterly results. In particular, crude and condensate sales grew more than 17 percent from the previous quarter. In 2013, we anticipate another exciting year of growth as we deliver 20 percent production growth over 2012 after adjusting for our 2012 property sales. We plan to bring Tamar and Alen to first production while continuing to grow our U.S. production from the DJ Basin and Marcellus. To support future growth, we intend to sanction this year another wave of major projects that will likely include a Phase 2 of Tamar in Israel, a Phase 1 of Leviathan also in Israel, Carla offshore West Africa, and Gunflint and Big Bend in the Gulf of Mexico. While we move these projects into development, we will also be testing significant exploration prospects including the Paraiso well offshore Nicaragua, Leviathan deep offshore Israel, and multiple prospects in the Gulf of Mexico.”

Key Stats (on next page)…

Revenue increased 19.28% from $1.01 billion in the previous quarter. Net income increased 13.57% from $221 million 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 $1.45 to a profit $1.35. For the current year, the average estimate has moved down from a profit of $4.57 to a profit of $4.55 over the last ninety days.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials.)