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Cabot (COG) Q4 Earnings Miss Estimates, Cash Flow Soars

Zacks Equity Research

An Earnings Miss: U.S. energy firm Cabot Oil & Gas Corporation COG reported earnings per share (excluding special items) of 55 cents, below the Zacks Consensus Estimate of 58 cents.

Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate for the quarter has been unchanged in the last 7 days.

Coming to earnings surprise history, the pure play natural gas company has a mixed record: its beaten estimates in two of the last four quarters, 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 Came in Higher than Expected: Revenues of $716.3 million were above the Zacks Consensus Estimate of $655 million.

Key Stats: Cabot’s overall production during the quarter totaled 206.3 billion cubic feet equivalent (Bcfe) – 100% gas – up 19.5% from the prior year quarter volume of 172.6 Bcfe. However, output came below the Zacks Consensus Estimate of 208 Bcfe.

The average realized natural gas price increased 42.7% from the year-ago quarter to $3.11 per thousand cubic feet.

The company’s operating cash flow soared 76.4% from the year-earlier level to $316.1 million.

During the quarter, repurchased approximately $259 million of its stock.

Proved Reserves: As of year-end 2018, the company had 11.6 trillion cubic feet equivalent in proved reserves, up 19% year over year.

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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