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Coterra Energy (CTRA)
NYSE:CTRA
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.43Last Year’s EPS
$0.52Same Quarter Last Year
Strong Buy
Based on 19 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: -0.22%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call presented a strong overall performance for the quarter with exceeded production and capital guidance, new LNG sales agreements, and significant shareholder returns. However, challenges remain with natural gas curtailments and potential regulatory risks. Despite these challenges, the company's strategic focus and operational efficiencies have positioned it well for future growth.Company Guidance
In the Coterra Energy Third Quarter 2024 Earnings Call, the company provided significant updates on their performance metrics and future guidance. The company reported that their total production volumes for oil, gas, and barrels of oil equivalent exceeded the high-end guidance, while their capital expenditures came in below the low end of the guidance range. Coterra has raised its full-year production guidance and lowered its capital guidance, projecting a capital spend between $1.75 billion to $1.85 billion, which is 14% lower than 2023. They reported a third-quarter total production average of 669 MBoe per day, with oil at 112.3 MBO per day and natural gas at 2.68 Bcf per day. The company's discretionary cash flow was $670 million, and free cash flow was $277 million after cash capital expenditures of $393 million. Coterra also highlighted their strategic moves in the LNG market with new sales agreements and reaffirmed their commitment to maintaining a disciplined capital allocation strategy, focusing on organic growth with a conservative reinvestment rate.Exceeded Production and Capital Guidance
Coterra's oil, gas, and barrel of oil equivalent volumes exceeded the high end of guidance, and capital expenditures came in below the low end of the guidance range. The production guidance was raised, and capital guidance was lowered for the full year 2024.
Strong Financial and Operational Performance
Third quarter production averaged 669 MBoe per day, with significant contributions from the Permian, Anadarko, and Marcellus regions. The company also reported net income of $252 million and free cash flow of $277 million.
LNG Sales Agreements
Coterra executed 200,000 MMBtu per day of LNG sales commitments, enhancing its portfolio by gaining exposure to international markets. This positions Coterra for significant future growth in gas sales.
Shareholder Returns
Returned $265 million to shareholders during the quarter, representing 96% of free cash flow, and repurchased 4.3 million shares.
Permian Basin Cost Reductions
Achieved a 12% reduction in Permian average well costs, with leading-edge costs below $1,000 per foot, thanks to increased efficiency and moderately lower service costs.
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CTRA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CTRA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $23.72 | $22.52 | -5.06% |
| Aug 01, 2024 | $24.97 | $23.70 | -5.09% |
| May 02, 2024 | $26.50 | $27.51 | +3.81% |
| Feb 22, 2024 | $25.49 | $25.15 | -1.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Coterra Energy (CTRA) report earnings?
Coterra Energy (CTRA) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Coterra Energy (CTRA) earnings time?
Coterra Energy (CTRA) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CTRA EPS forecast?
CTRA EPS forecast for the fiscal quarter 2024 (Q4) is $0.43.
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