Have you been eager to see how Encana Corp. – one of the largest gas producers in North America – performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Calgary, Alberta-based behemoth’s earnings release this morning:
About Encana: Encana is a focused pure-play natural gas exploration and production company. It holds a highly competitive land and resource position in a number of the region's most promising shale and tight gas resource plays. This provides the company with a low risk, long-life, and sustainable growth profile.
Zacks Rank & Surprise History: Currently, Encana has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to earnings surprise history, the company has a good record: its beaten estimates in three of the last four quarters.
Estimate Revision Trend: Investors should note that the earnings estimate revisions for Encana was revised downwards by around 43% in the last 60 days. The Zacks Consensus Estimate remained the same over the last 7 days.
We have highlighted some of the key details from the just-released announcement below:
Encana Corporation Price and EPS Surprise
A Higher-than-Expected Profit: The company announced operating earnings per share of 11 cents, ahead of the Zacks Consensus Estimate of 4 cents.
Revenue Surpassed Estimates: Total revenues came in at $1,297 million, which outperformed the Zacks Consensus Estimate of $789 million.
Key Stats: Quarterly natural gas production declined approximately 18% year over year to 1,241 million cubic feet per day, while liquids production fell 15% year over year to 110.9 thousand barrels per day.
Encana's realized natural gas price were $2.50 per thousand cubic feet, up 14.6% from the year-ago quarter level of $2.18. Meanwhile, realized liquids price rose to $43.45 per barrel from $33.09 in the fourth quarter of 2015, reflecting an increase of 31.3%.
Share Performance: Shares have fallen 9% year-to-date, while the Zacks categorized Oil & Gas - Canadian Exploration & Productionindustry lost 7.6% over the same period.
Check back later for our full write up on this Encana earnings report later!
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Encana (ECA) Q1 Earnings and Revenues Beat Estimates
Have you been eager to see how Encana Corp. – one of the largest gas producers in North America – performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Calgary, Alberta-based behemoth’s earnings release this morning:
About Encana: Encana is a focused pure-play natural gas exploration and production company. It holds a highly competitive land and resource position in a number of the region's most promising shale and tight gas resource plays. This provides the company with a low risk, long-life, and sustainable growth profile.
Zacks Rank & Surprise History: Currently, Encana has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to earnings surprise history, the company has a good record: its beaten estimates in three of the last four quarters.
Estimate Revision Trend: Investors should note that the earnings estimate revisions for Encana was revised downwards by around 43% in the last 60 days. The Zacks Consensus Estimate remained the same over the last 7 days.
We have highlighted some of the key details from the just-released announcement below:
Encana Corporation Price and EPS Surprise
Encana Corporation Price and EPS Surprise | Encana Corporation Quote
A Higher-than-Expected Profit: The company announced operating earnings per share of 11 cents, ahead of the Zacks Consensus Estimate of 4 cents.
Revenue Surpassed Estimates: Total revenues came in at $1,297 million, which outperformed the Zacks Consensus Estimate of $789 million.
Key Stats: Quarterly natural gas production declined approximately 18% year over year to 1,241 million cubic feet per day, while liquids production fell 15% year over year to 110.9 thousand barrels per day.
Encana's realized natural gas price were $2.50 per thousand cubic feet, up 14.6% from the year-ago quarter level of $2.18. Meanwhile, realized liquids price rose to $43.45 per barrel from $33.09 in the fourth quarter of 2015, reflecting an increase of 31.3%.
Share Performance: Shares have fallen 9% year-to-date, while the Zacks categorized Oil & Gas - Canadian Exploration & Productionindustry lost 7.6% over the same period.
Check back later for our full write up on this Encana earnings report later!
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If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>