Canadian Natural Resources: Q1 Earnings Snapshot
May 6, 2021
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CALGARY, Alberta (AP) Canadian Natural Resources Ltd. (CNQ) on Thursday reported first-quarter net income of $1.09 billion, after reporting a loss in the same period a year earlier.
The Calgary, Alberta-based company said it had profit of 92 cents per share. Earnings, adjusted for non-recurring gains, came to 81 cents per share.
The oil and natural gas company posted revenue of $5.54 billion in the period. Its adjusted revenue was $5.22 billion.
Canadian Natural Resources shares have risen 34% since the beginning of the year. The stock has more than doubled in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CNQ at https://www.zacks.com/ap/CNQ
Canadian Natural reports $1 38B Q1 profit, record production
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Dan Healing
Canadian Natural Resources Ltd. logo is shown at the company s annual meeting in Calgary on May 3, 2012. THE CANADIAN PRESS/Jeff McIntosh May 06, 2021 - 11:49 AM
CALGARY - Higher oil and gas prices, record production and a restrained capital spending budget will result in bountiful free cash flow for Canadian Natural Resources Ltd. this year, the oilsands company said Thursday.
In its first-quarter results, the Calgary-based company said it expects to generate between $5.7 billion and $6.2 billion of positive cash flow in 2021 after paying for a $3.2-billion capital budget and about $2.2 billion in dividends.
In keeping with other big oilsands producers, however, Canadian Natural says it plans to spend the money mainly on reducing debt, not taking on big projects to increase oil and gas production.
Canadian Natural Resources beats profit expectations, boosted by higher oil prices
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