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Noble Energy Third Quarter Earnings
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NBL
Noble Energy (NYSE:NBL) announced its results for the most recent quarter on October 25, 2012. Noble Energy is an independent energy company that acquires and produces crude oil, natural gas, and natural gas liquids.
A business' earnings are the main determinant of its share price because earnings and the circumstances relating to them can indicate whether the business will be profitable and successful in the long run. SEE: How To Decode A Company's Earnings Reports
The Numbers: Noble Energy's EPS outpaced analyst estimates while the company's revenues came in below predictions. The company reported $1.23 per share versus the $1.04 per share estimate and revenues of $1.01 billion versus the $1.03 billion estimate. EPS fell 48.5% while revenue climbed 14.4% from the same period last year. Noble Energy reported net income of $221 million during the third quarter. This is a 49.9% decline from last year.
Management Quote: Charles D. Davidson, Noble Energy's Chairman and CEO, commented, "Strong liquids growth in both the DJ Basin and Gulf of Mexico contributed to our standout performance this quarter. Discretionary cash flow grew to a record level, up 27 percent over the comparable period last year, driven by a 42 percent increase in crude oil sales. Despite the impact of Hurricane Isaac in the Gulf of Mexico and unscheduled third party downtime in the DJ Basin, volumes grew by eight percent over last quarter and 11 percent year over year. Our major international projects at Tamar and Alen remain on schedule, and we expect to initiate sales from Tamar in less than six months."
Looking Ahead: Analysts have a more positive outlook for the company's next-quarter performance. Over the past month, the average estimate for the fourth quarter has gone up from $1.23 per share to $1.28. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. A decreasing earning estimate is a negative sign and usually leads to a drop in the stock price. The average estimate for the fiscal year is $4.89 per share, down from $5.31 90 days ago.
A business' earnings are the main determinant of its share price because earnings and the circumstances relating to them can indicate whether the business will be profitable and successful in the long run. SEE: How To Decode A Company's Earnings Reports
The Numbers: Noble Energy's EPS outpaced analyst estimates while the company's revenues came in below predictions. The company reported $1.23 per share versus the $1.04 per share estimate and revenues of $1.01 billion versus the $1.03 billion estimate. EPS fell 48.5% while revenue climbed 14.4% from the same period last year. Noble Energy reported net income of $221 million during the third quarter. This is a 49.9% decline from last year.
Looking Ahead: Analysts have a more positive outlook for the company's next-quarter performance. Over the past month, the average estimate for the fourth quarter has gone up from $1.23 per share to $1.28. Increasing earnings estimate is a positive sign about the company and it typically leads a increase in the stock price. A decreasing earning estimate is a negative sign and usually leads to a drop in the stock price. The average estimate for the fiscal year is $4.89 per share, down from $5.31 90 days ago.
by
Investopedia Staff
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