Canadian Natural Resources (TSX: CNQ) reported earnings on May 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Canadian Natural Resources beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share increased significantly. GAAP earnings per share shrank significantly.
Margins dropped across the board.
Canadian Natural Resources reported revenue of $3.69 billion. The five analysts polled by S&P Capital IQ hoped for sales of $3.32 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.36. The 16 earnings estimates compiled by S&P Capital IQ averaged $0.42 per share. Non-GAAP EPS of $0.36 for Q1 were 33% higher than the prior-year quarter's $0.27 per share. GAAP EPS of $0.19 for Q1 were 51% lower than the prior-year quarter's $0.39 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 47.0%, 320 basis points worse than the prior-year quarter. Operating margin was 10.8%, 900 basis points worse than the prior-year quarter. Net margin was 5.7%, 640 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $3.09 billion. On the bottom line, the average EPS estimate is $0.33.
Next year's average estimate for revenue is $15.18 billion. The average EPS estimate is $1.89.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,478 members out of 1,509 rating the stock outperform, and 31 members rating it underperform. Among 304 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 300 give Canadian Natural Resources 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 is outperform, with an average price target of $38.76.
Is Canadian Natural Resources the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
Add Canadian Natural Resources to My Watchlist.
The article Canadian Natural Resources Misses Where it Counts originally appeared on Fool.com.
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. The Motley Fool has no position in any of the stocks mentioned. 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.