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Cabot (CTRA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Coterra Energy (CTRA - Free Report) reported $1.19 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 53.9%. EPS of $0.39 for the same period compares to $1.35 a year ago.
The reported revenue represents a surprise of -7.41% over the Zacks Consensus Estimate of $1.28 billion. With the consensus EPS estimate being $0.36, the EPS surprise was +8.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cabot performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total- Daily equivalent production: 664.9 MBoe/d versus the eight-analyst average estimate of 636.44 MBoe/d.
Average Daily Production Volumes - Oil: 95.8 MBbl compared to the 91.42 MBbl average estimate based on six analysts.
Average Daily Production Volumes - Natural gas: 2904 MMcf versus 2772.65 MMcf estimated by six analysts on average.
Natural gas price realizations (ASP) including the effect of hedges: $1.95 per thousand cubic feet compared to the $1.88 per thousand cubic feet average estimate based on five analysts.
Crude oil sales price per Bbl -Total: $71.88 versus $74.15 estimated by four analysts on average.
Liquid natural gas sales price per Bbl -Total: $16.67 versus $20.48 estimated by four analysts on average.
Average Sales Price - Crude oil and condensate, including hedges: 72.17 $/Bbl compared to the 74.23 $/Bbl average estimate based on four analysts.
Natural gas sales price per mcf -Total (excluding hedges): $1.65 versus the four-analyst average estimate of $1.78.
Natural gas production -Total: 264.3 Bcf versus the two-analyst average estimate of 253.45 Bcf.
Crude oil production - Total: 8.7 KBbls versus 8.33 KBbls estimated by two analysts on average.
Operating revenues- Natural gas: $436 million versus $498.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -70.3% change.
Operating revenues- Crude oil and condensate: $626 million versus $632.82 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -28.5% change.
Shares of Cabot have returned +9.2% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Cabot (CTRA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Coterra Energy (CTRA - Free Report) reported $1.19 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 53.9%. EPS of $0.39 for the same period compares to $1.35 a year ago.
The reported revenue represents a surprise of -7.41% over the Zacks Consensus Estimate of $1.28 billion. With the consensus EPS estimate being $0.36, the EPS surprise was +8.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cabot performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total- Daily equivalent production: 664.9 MBoe/d versus the eight-analyst average estimate of 636.44 MBoe/d.
- Average Daily Production Volumes - Oil: 95.8 MBbl compared to the 91.42 MBbl average estimate based on six analysts.
- Average Daily Production Volumes - Natural gas: 2904 MMcf versus 2772.65 MMcf estimated by six analysts on average.
- Natural gas price realizations (ASP) including the effect of hedges: $1.95 per thousand cubic feet compared to the $1.88 per thousand cubic feet average estimate based on five analysts.
- Crude oil sales price per Bbl -Total: $71.88 versus $74.15 estimated by four analysts on average.
- Liquid natural gas sales price per Bbl -Total: $16.67 versus $20.48 estimated by four analysts on average.
- Average Sales Price - Crude oil and condensate, including hedges: 72.17 $/Bbl compared to the 74.23 $/Bbl average estimate based on four analysts.
- Natural gas sales price per mcf -Total (excluding hedges): $1.65 versus the four-analyst average estimate of $1.78.
- Natural gas production -Total: 264.3 Bcf versus the two-analyst average estimate of 253.45 Bcf.
- Crude oil production - Total: 8.7 KBbls versus 8.33 KBbls estimated by two analysts on average.
- Operating revenues- Natural gas: $436 million versus $498.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -70.3% change.
- Operating revenues- Crude oil and condensate: $626 million versus $632.82 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -28.5% change.
View all Key Company Metrics for Cabot here>>>Shares of Cabot have returned +9.2% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.