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Encana (ECA) Lags Q2 Earnings and Sales Estimates

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An Earnings Miss: Exploration and production company, Encana Corporation (ECA - Free Report) announced second-quarter 2018 net loss per share of 16 cents, as against the Zacks Consensus Estimate of earnings of 10 cents.

Revenue Lagged Estimates: Total revenues came in at $983 million, which underperformed the Zacks Consensus Estimate of $1,144 million.

Key Stats: Quarterly natural gas production declined approximately 4% year over year to 1,095 million cubic feet per day, while liquids production rose 24% year over year to 155.3 thousand barrels per day.

Encana's realized natural gas were $3.03 per thousand cubic feet, compared with the year-ago quarter level of $2.56. Meanwhile, realized oil price rose to $58 per barrel from $48.27 in the second quarter of 2017.

Estimate Revision Trend: Investors should note that the earnings estimate for Encana was revised upward by a penny in the last seven 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 three of the last four quarters with an average beat of 83.27%.

Encana Corporation Price and EPS Surprise

 

Encana Corporation Price and EPS Surprise | Encana Corporation Quote

Check back later for our full write up on this Encana earnings report later!

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