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Encana (ECA) Beats Q4 Earnings and Sales Estimates

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An Earnings Beat: Encana Corporation (ECA - Free Report) reported earnings of 32 cents per share, ahead of the Zacks Consensus Estimate as well as the year-ago profit of 12 cents.
Estimate Revision Trend & Surprise History: The stock had seen the Zacks Consensus Estimate for fourth-quarter earnings revised down by a penny over the last 30 days.
Coming to earnings surprise history, the company has an impressive record: it has topped estimates in each of the last four quarters, with an average beat of 45.96%. 
Revenues Surpass Estimates: Revenues of $2,381 million were 98% above the fourth-quarter 2017 sales of $1,210 million. Further, the top line surpassed the Zacks Consensus Estimate of $1,400 million.
Key Tidbits
Total fourth-quarter production came at 403,400 barrels of oil equivalent per day (BOE/d) compared with 335,200 BOE/d in the prior-year quarter.
Quarterly natural gas production increased approximately 15% year over year to 1,265 million cubic feet per day, while liquids production rose 26% from the prior-year quarter to 192.7 thousand barrels per day.
Encana's realized natural gas price was $2.64 per thousand cubic feet, compared with the year-ago quarter level of $2.34. Meanwhile, realized liquids price rose to $58.81 per barrel from $55.4 in the fourth quarter of 2017.
Zacks Rank: Currently, Encana carries a Zacks Rank #3 (Hold).
Check back later for our full write up on Encana’s earnings report later!
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