An Earnings Beat: Exploration and production company, Encana Corporation announced first-quarter 2018 operating earnings per share of 16 cents, surpassing the Zacks Consensus Estimate of earnings of 13 cents.

Revenue Surpassed Estimates: Total revenues came in at $1,313 million, which outperformed the Zacks Consensus Estimate of $1,110 million.

Key Stats: Quarterly natural gas production declined approximately 13% year over year to 1,075 million cubic feet per day, while liquids production rose 31% year over year to 145.2 thousand barrels per day.

Encana's realized natural gas price were $2.94 per thousand cubic feet, compared with the year-ago quarter level of $2.50. Meanwhile, realized oil price rose to $55.74 per barrel from $49.66 in the first quarter of 2017.

Estimate Revision Trend: Investors should note that the earnings estimate for Encana was revised downward by 4 cents 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 three of the last four quarters with an average beat of 121.25%

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

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