Canadian Natural Resources Limited Beats on Both Top and Bottom Lines
Canadian Natural Resources Limited (TSX: CNQ) reported earnings yesterday. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Canadian Natural Resources Limited beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly, and GAAP earnings per share grew.
Margins expanded across the board.
Canadian Natural Resources Limited reported revenue of $4.15 billion. The seven analysts polled by S&P Capital IQ predicted sales of $3.95 billion on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $3.37 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.87. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.84 per share on the same basis. GAAP EPS were $0.75 for Q4 versus -$0.38 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 61.7%, 140 basis points better than the prior-year quarter. Operating margin was 29.4%, 1,220 basis points better than the prior-year quarter. Net margin was 19.7%, 3,210 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.63 billion. On the bottom line, the average EPS estimate is $0.62.
Next year's average estimate for revenue is $16.26 billion. The average EPS estimate is $3.14.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,481 members rating the stock outperform and 30 members rating it underperform. Among 414 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 410 give Canadian Natural Resources Limited a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Canadian Natural Resources Limited is outperform, with an average price target of $46.75.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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