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Cabot (CTRA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2023, Coterra Energy (CTRA - Free Report) reported revenue of $1.36 billion, down 46.2% over the same period last year. EPS came in at $0.50, compared to $1.42 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.38 billion, representing a surprise of -1.97%. The company delivered an EPS surprise of +13.64%, with the consensus EPS estimate being $0.44.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 670.3 MBOE/d compared to the 644.15 MBOE/d average estimate based on eight analysts.
Natural gas price realizations (ASP) including the effect of hedges: $2.01 per thousand cubic feet compared to the $2.09 per thousand cubic feet average estimate based on five analysts.
Average Sales Price - Crude oil and condensate, including hedges: 80.74 $/Bbl versus 81.66 $/Bbl estimated by four analysts on average.
Liquid natural gas sales price per Bbl -Total: $19.52 compared to the $19.74 average estimate based on four analysts.
Natural gas sales price per mcf -Total (excluding hedges): $1.80 compared to the $2.03 average estimate based on four analysts.
Crude oil sales price per Bbl -Total: $80.80 versus the four-analyst average estimate of $81.67.
Natural gas liquids (NGLs): 8.7 MBBL versus 7.39 MBBL estimated by two analysts on average.
Crude oil production - Total: 8.5 MBBL versus 8.39 MBBL estimated by two analysts on average.
Natural gas production -Total: 267.1 Bcf compared to the 259.86 Bcf average estimate based on two analysts.
Operating revenues- Natural gas: $481 million compared to the $540.90 million average estimate based on two analysts. The reported number represents a change of -70.7% year over year.
Operating revenues- Crude oil and condensate: $684 million versus the two-analyst average estimate of $678.81 million. The reported number represents a year-over-year change of -9.4%.
Shares of Cabot have returned -2.3% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Cabot (CTRA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Coterra Energy (CTRA - Free Report) reported revenue of $1.36 billion, down 46.2% over the same period last year. EPS came in at $0.50, compared to $1.42 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.38 billion, representing a surprise of -1.97%. The company delivered an EPS surprise of +13.64%, with the consensus EPS estimate being $0.44.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 670.3 MBOE/d compared to the 644.15 MBOE/d average estimate based on eight analysts.
- Natural gas price realizations (ASP) including the effect of hedges: $2.01 per thousand cubic feet compared to the $2.09 per thousand cubic feet average estimate based on five analysts.
- Average Sales Price - Crude oil and condensate, including hedges: 80.74 $/Bbl versus 81.66 $/Bbl estimated by four analysts on average.
- Liquid natural gas sales price per Bbl -Total: $19.52 compared to the $19.74 average estimate based on four analysts.
- Natural gas sales price per mcf -Total (excluding hedges): $1.80 compared to the $2.03 average estimate based on four analysts.
- Crude oil sales price per Bbl -Total: $80.80 versus the four-analyst average estimate of $81.67.
- Natural gas liquids (NGLs): 8.7 MBBL versus 7.39 MBBL estimated by two analysts on average.
- Crude oil production - Total: 8.5 MBBL versus 8.39 MBBL estimated by two analysts on average.
- Natural gas production -Total: 267.1 Bcf compared to the 259.86 Bcf average estimate based on two analysts.
- Operating revenues- Natural gas: $481 million compared to the $540.90 million average estimate based on two analysts. The reported number represents a change of -70.7% year over year.
- Operating revenues- Crude oil and condensate: $684 million versus the two-analyst average estimate of $678.81 million. The reported number represents a year-over-year change of -9.4%.
View all Key Company Metrics for Cabot here>>>Shares of Cabot have returned -2.3% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.