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Canadian Natural Resources (CNQ) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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Canadian Natural Resources (CNQ - Free Report) reported $7.02 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 1.7%. EPS of $1.72 for the same period compares to $1.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.73 billion, representing a surprise of +4.32%. The company delivered an EPS surprise of +8.18%, with the consensus EPS estimate being $1.59.
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.
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 Canadian Natural Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total production - Average daily production: 1,419,313 BOE/D versus 1,411,368 BOE/D estimated by five analysts on average.
Production - Primary Heavy Oil per day: 80.1 thousands of barrels of oil versus the four-analyst average estimate of 78.38 thousands of barrels of oil.
Production - Thermal In Situ Oil per day: 278.42 thousands of barrels of oil compared to the 283.88 thousands of barrels of oil average estimate based on four analysts.
Production - Oil Sands Mining and Upgrading per day: 500.13 thousands of barrels of oil compared to the 487.22 thousands of barrels of oil average estimate based on four analysts.
Production - Pelican Lake Oil per day: 46.05 thousands of barrels of oil versus 48.3 thousands of barrels of oil estimated by four analysts on average.
Production - North Sea Oil per day: 12.62 thousands of barrels of oil compared to the 13.04 thousands of barrels of oil average estimate based on four analysts.
Production - North America Natural Gas per day: 2,218 Mcf/D versus the four-analyst average estimate of 2,224.83 Mcf/D.
Natural gas - Average daily production: 2231 millions of cubic feet versus the four-analyst average estimate of 2239.61 millions of cubic feet.
Oil & liquids - Average daily production: 1,047,541 BBL/D versus 1,042,545 BBL/D estimated by four analysts on average.
Production - Offshore Africa Oil per day: 13.21 thousands of barrels of oil versus the four-analyst average estimate of 13.92 thousands of barrels of oil.
Production - North Sea Natural Gas per day: 2 Mcf/D versus 1.72 Mcf/D estimated by three analysts on average.
Production - Offshore Africa Natural Gas per day: 11 Mcf/D versus 10.71 Mcf/D estimated by three analysts on average.
Shares of Canadian Natural Resources have returned +3.5% over the past month versus the Zacks S&P 500 composite's +3.9% 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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Canadian Natural Resources (CNQ) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
Canadian Natural Resources (CNQ - Free Report) reported $7.02 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 1.7%. EPS of $1.72 for the same period compares to $1.44 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $6.73 billion, representing a surprise of +4.32%. The company delivered an EPS surprise of +8.18%, with the consensus EPS estimate being $1.59.
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.
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 Canadian Natural Resources performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total production - Average daily production: 1,419,313 BOE/D versus 1,411,368 BOE/D estimated by five analysts on average.
- Production - Primary Heavy Oil per day: 80.1 thousands of barrels of oil versus the four-analyst average estimate of 78.38 thousands of barrels of oil.
- Production - Thermal In Situ Oil per day: 278.42 thousands of barrels of oil compared to the 283.88 thousands of barrels of oil average estimate based on four analysts.
- Production - Oil Sands Mining and Upgrading per day: 500.13 thousands of barrels of oil compared to the 487.22 thousands of barrels of oil average estimate based on four analysts.
- Production - Pelican Lake Oil per day: 46.05 thousands of barrels of oil versus 48.3 thousands of barrels of oil estimated by four analysts on average.
- Production - North Sea Oil per day: 12.62 thousands of barrels of oil compared to the 13.04 thousands of barrels of oil average estimate based on four analysts.
- Production - North America Natural Gas per day: 2,218 Mcf/D versus the four-analyst average estimate of 2,224.83 Mcf/D.
- Natural gas - Average daily production: 2231 millions of cubic feet versus the four-analyst average estimate of 2239.61 millions of cubic feet.
- Oil & liquids - Average daily production: 1,047,541 BBL/D versus 1,042,545 BBL/D estimated by four analysts on average.
- Production - Offshore Africa Oil per day: 13.21 thousands of barrels of oil versus the four-analyst average estimate of 13.92 thousands of barrels of oil.
- Production - North Sea Natural Gas per day: 2 Mcf/D versus 1.72 Mcf/D estimated by three analysts on average.
- Production - Offshore Africa Natural Gas per day: 11 Mcf/D versus 10.71 Mcf/D estimated by three analysts on average.
View all Key Company Metrics for Canadian Natural Resources here>>>Shares of Canadian Natural Resources have returned +3.5% over the past month versus the Zacks S&P 500 composite's +3.9% 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.