Canadian Natural Resources
The 10-second takeaway
For the quarter ended March 31 (Q1), Canadian Natural Resources beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share increased significantly.
Gross margins shrank, operating margins grew, net margins increased.
Canadian Natural Resources tallied revenue of $3.53 billion. The seven analysts polled by S&P Capital IQ expected net sales of $3.11 billion on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $3.04 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.27. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.42 per share. GAAP EPS of $0.39 for Q1 were much higher than the prior-year quarter's $0.04 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 50.2%, 10 basis points worse than the prior-year quarter. Operating margin was 18.4%, 730 basis points better than the prior-year quarter. Net margin was 12.1%, 1,050 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.79 billion. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $15.78 billion. The average EPS estimate is $2.78.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,479 members out of 1,510 rating the stock outperform, and 31 members rating it underperform. Among 376 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 371 give Canadian Natural Resources a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Canadian Natural Resources is outperform, with an average price target of $47.75.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.