U.S. Markets closed

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!

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cabot Oil & Gas Corporation (COG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research