Noble Energy Earnings: Here’s Why the Stock is Down Now

Noble Energy, Inc. (NYSE:NBL) 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. Shares are down 1.63%.

Noble Energy, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 76.92% to $0.69 in the quarter versus EPS of $0.39 in the year-earlier quarter.

Revenue: Rose 18.94% to $1.15 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Noble Energy, Inc. reported adjusted EPS income of $0.69 per share. By that measure, the company missed the mean analyst estimate of $0.74. It missed the average revenue estimate of $1.19 billion.

Quoting Management: Charles D. Davidson, Noble Energy’s Chairman and CEO, commented, “Our second quarter results position us well to meet our objectives for 2013 and continue to lay a foundation for long-term, sustainable growth. The commencement of production at Alen is a milestone accomplishment and marks our fourth major project brought online in the last two years, within budget and ahead of schedule. For the remainder of the year, we look forward to continuing to establish new production records, with significant contributions from all of our core areas of operation. In addition, we are participating in a number of impactful exploration and appraisal wells, including our first prospects in Nevada and offshore Nicaragua, both of which have the potential to be new core areas for Noble Energy.”

Key Stats (on next page)…

Revenue increased 0.52% from $1.14 billion in the previous quarter. EPS decreased 6.76% from $0.74 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 $0.93 to a profit $0.95. For the current year, the average estimate has moved up from a profit of $3.35 to a profit of $3.54 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. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)