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Cabot (CTRA) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Coterra Energy (CTRA - Free Report) reported $1.6 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 30%. EPS of $0.52 for the same period compares to $1.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.54 billion, representing a surprise of +3.51%. The company delivered an EPS surprise of -7.14%, with the consensus EPS estimate being $0.56.
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:
Production Volumes - Total Company - Daily equivalent production: 697.4 MBOE/d compared to the 672.21 MBOE/d average estimate based on nine analysts.
Production Volumes - Total Company - Oil: 104.7 MBbl/d versus 100.54 MBbl/d estimated by eight analysts on average.
Production Volumes - Total Company - Natural gas: 2,970 MMcf/d compared to the 2,856.78 MMcf/d average estimate based on eight analysts.
Average sales price (including hedges) - Total Company - Oil: 77.21 $/Bbl versus 79.75 $/Bbl estimated by five analysts on average.
Average sales price (including hedges) - Total Company - NGL: 18.66 $/Bbl versus 19.32 $/Bbl estimated by five analysts on average.
Average sales price (excluding hedges) - Total Company - Natural gas: 2.03 $/Bbl versus the five-analyst average estimate of 2.31 $/Bbl.
Average sales price (including hedges) - Total Company - Natural gas: $2.19 per thousand cubic feet versus the five-analyst average estimate of $2.39 per thousand cubic feet.
Average sales price (excluding hedges) - Total Company - Oil: 77.1 $/Bbl compared to the 77.75 $/Bbl average estimate based on four analysts.
Operating revenues- NGL: $168 million versus the two-analyst average estimate of $164.45 million. The reported number represents a year-over-year change of -6.7%.
Operating revenues- Natural gas: $553 million compared to the $588.59 million average estimate based on two analysts. The reported number represents a change of -55.6% year over year.
Operating revenues- Oil: $742 million versus $709.56 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
Shares of Cabot have returned +4.6% over the past month versus the Zacks S&P 500 composite's +3.1% 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) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Coterra Energy (CTRA - Free Report) reported $1.6 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 30%. EPS of $0.52 for the same period compares to $1.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.54 billion, representing a surprise of +3.51%. The company delivered an EPS surprise of -7.14%, with the consensus EPS estimate being $0.56.
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:
- Production Volumes - Total Company - Daily equivalent production: 697.4 MBOE/d compared to the 672.21 MBOE/d average estimate based on nine analysts.
- Production Volumes - Total Company - Oil: 104.7 MBbl/d versus 100.54 MBbl/d estimated by eight analysts on average.
- Production Volumes - Total Company - Natural gas: 2,970 MMcf/d compared to the 2,856.78 MMcf/d average estimate based on eight analysts.
- Average sales price (including hedges) - Total Company - Oil: 77.21 $/Bbl versus 79.75 $/Bbl estimated by five analysts on average.
- Average sales price (including hedges) - Total Company - NGL: 18.66 $/Bbl versus 19.32 $/Bbl estimated by five analysts on average.
- Average sales price (excluding hedges) - Total Company - Natural gas: 2.03 $/Bbl versus the five-analyst average estimate of 2.31 $/Bbl.
- Average sales price (including hedges) - Total Company - Natural gas: $2.19 per thousand cubic feet versus the five-analyst average estimate of $2.39 per thousand cubic feet.
- Average sales price (excluding hedges) - Total Company - Oil: 77.1 $/Bbl compared to the 77.75 $/Bbl average estimate based on four analysts.
- Operating revenues- NGL: $168 million versus the two-analyst average estimate of $164.45 million. The reported number represents a year-over-year change of -6.7%.
- Operating revenues- Natural gas: $553 million compared to the $588.59 million average estimate based on two analysts. The reported number represents a change of -55.6% year over year.
- Operating revenues- Oil: $742 million versus $709.56 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
View all Key Company Metrics for Cabot here>>>Shares of Cabot have returned +4.6% over the past month versus the Zacks S&P 500 composite's +3.1% 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.