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Canadian Natural (TSE:CNQ)
TSX:CNQ
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
C$0.92Last Year’s EPS
C$1.17Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: -7.33%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong production records and cost efficiency improvements, significant acquisitions, and financial performance with increased shareholder returns. However, there were production declines in certain segments and challenges in the natural gas sector.Company Guidance
In the Q3 2024 earnings call, Canadian Natural Resources (CNQ.TO) highlighted several key metrics that underscore their operational and financial performance. The company reported a robust average production of approximately 1.363 million barrels of oil equivalent (BOEs), with 1.022 million barrels of liquids and over 2 billion cubic feet (Bcf) of natural gas. Their oil sands mining and upgrading operations achieved a record monthly production of approximately 529,000 barrels per day of synthetic crude oil (SCO) in August, while maintaining top-tier quarterly operating costs of $20.67 per barrel. Financially, CNQ generated an adjusted funds flow of $3.9 billion and adjusted net earnings of $2.1 billion, returning $1.9 billion to shareholders through dividends and share buybacks. The company also announced a 7% increase in its quarterly dividend to $0.5625 per share, marking the 25th consecutive year of dividend growth. Additionally, CNQ plans to expand its crude oil transportation capacity on the Trans Mountain Expansion (TMX) by 75,000 barrels per day, further supporting their strategic focus on enhanced market access and shareholder value.Record Production and Cost Efficiency
Achieved strong average production of approximately 1.363 million BOEs in Q3, with oil sands mining and upgrading assets delivering record monthly production of 529,000 barrels per day of SCO in August. Operating costs per barrel decreased by 7% compared to Q3 2023.
Acquisition and Expansion
Announced agreement to acquire Chevron Canada's 20% interest in AOSP and 70% interest in Duvernay play, adding approximately 62,500 barrels per day of SCO production and providing near-term growth opportunities.
Financial Performance and Shareholder Returns
Generated adjusted funds flow of $3.9 billion and returned $1.9 billion to shareholders in Q3. Announced a 7% increase in quarterly dividend, marking the 25th consecutive year of dividend increases.
Operational Improvements
Achieved record quarterly production at Jackfish and successful completion of a reliability enhancement project at Horizon.
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TSE:CNQ 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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TSE:CNQ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | C$46.91 | C$46.76 | -0.32% |
| Aug 01, 2024 | C$47.83 | C$47.31 | -1.10% |
| May 02, 2024 | C$49.70 | C$49.39 | -0.61% |
| Feb 29, 2024 | C$42.91 | C$45.13 | +5.15% |
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 Canadian Natural (TSE:CNQ) report earnings?
Canadian Natural (TSE:CNQ) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Canadian Natural (TSE:CNQ) earnings time?
Canadian Natural (TSE:CNQ) earnings time is at Feb 27, 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 TSE:CNQ EPS forecast?
TSE:CNQ EPS forecast for the fiscal quarter 2024 (Q4) is C$0.92.
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