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Noble Energy (NBL) Beats Q3 Earnings, Revenue Increase Y/Y

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Houston, TX-based Noble Energy Inc. (NBL - Free Report) is an independent energy company engaged in the exploration and production (E&P) of crude oil, natural gas and natural gas liquids (NGLs) across the world. The company has a diversified basket of short- and long-term projects, both onshore and offshore, in domestic and international locations.

Noble Energy’s third quarter earnings were primarily driven by higher sales volume, which increased by 8% compared to previous year’s volume. The volumes were up due to higher volumes from Delaware and DJ Basin assets.

Surprise History

Coming to the earnings surprise, Noble Energy has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in a positive average surprise of 195.11%.

Noble Energy Inc. Price and EPS Surprise

Zacks Rank: Currently, Noble Energy Inc. has a Zacks Rank #3 (Hold) but that could change following its third quarter 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: Noble Energy’s reported adjusted earnings of 27 cents per share in the third-quarter of 2018, surpassing the Zacks Consensus Estimate of 16 cents by 68.8%.

Revenue: Reported revenues of $1,273 million surpassed the Zacks Consensus Estimate of $1,152 million by 10.5%.

Check back later for our full write up on this Noble Energy Inc.'s earnings report later!

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