An Earnings Beat: Exploration and production company, Encana Corporation (ECA - Free Report) announced operating earnings per share of 12 cents, surpassing the Zacks Consensus Estimate of earnings of 10 cents.
Revenue Surpassed Estimates: Total revenues came in at $1,210 million, which outperformed the Zacks Consensus Estimate of $1,016 million.
Key Stats: Quarterly natural gas production declined approximately 14% year over year to 1,096 million cubic feet per day, while liquids production rose 40% year over year to 152.6 thousand barrels per day.
Encana's realized natural gas price were $2.34 per thousand cubic feet, compared with the year-ago quarter level of $2.35. Meanwhile, realized liquids price rose to $46.52 per barrel from $42.96 in the fourth quarter of 2016.
Estimate Revision Trend: Investors should note that the earnings estimate revisions for Encana was revised downwards by 1 cent in the last 30 days. The Zacks Consensus Estimate remained the same over the last 7 days.
Zacks Rank & Surprise History: Currently, Encana carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Coming to earnings surprise history, the company has an impressive record: the company has surpassed estimates in each of the last four quarters with an average beat of 8.05%
Check back later for our full write up on this Encana earnings report later!
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