An Earnings Miss: U.S. energy firm Cabot Oil & Gas Corporation COG reported earnings per share (excluding special items) of 13 cents, missing the Zacks Consensus Estimate of 19 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been revised upward by a penny in the last seven days.
Coming to earnings surprise history, Cabot is on a bit of a slippery surface. Before posting the earnings miss in Q2, the company missed the Zacks Consensus Estimate twice in last four reports, as shown in the chart below.
Cabot Oil & Gas Corporation Price and EPS Surprise
Cabot Oil & Gas Corporation Price and EPS Surprise | Cabot Oil & Gas Corporation Quote
Revenue Beat: Revenues of $453.4 million beat the Zacks Consensus Estimate of $376 million.
Key Stats: Cabot’s overall production during the quarter totaled 172.4 billion cubic feet equivalent (Bcfe) – 100% gas – marginally lower than the prior year quarter volume of 173.1 Bcfe. The average realized natural gas price fell to $2.11 from the year-ago quarter to $2.38 per thousand cubic feet.
Zacks Rank: Currently, Cabot carries a Zacks Rank #3 (Hold).
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Cabot earnings report later!
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