[ad_1]
Coterra Vitality (NYSE:CTRA) reported Q1 outcomes after the shut Monday, beating earnings estimates, whereas producing sturdy free money circulate, elevating the dividend and sustaining annual steerage. Apparently, Coterra (CTRA) joined Chevron (CVX), Diamondback (FANG), Pioneer (PXD) and SM (SM) in guiding Q2 volumes under Q1 outcomes:
- Earnings – the Firm generated $1.01 in adjusted earnings per share in the course of the quarter, versus Avenue expectations for $0.81.
- Money circulate – the enterprise generated $961m in free money circulate, or ~4.1% of the present market cap.
- Capital allocation – the Board approved a 60c variable plus base dividend for the quarter (8.3% yield), and repurchased 7.6m shares (~1.0% of shares excellent).
- Information – capital and manufacturing steerage remained unchanged for 2022; nevertheless, Q2 volumes are anticipated to fall 2.3% sequentially.
Forward of Q1 outcomes, buyers had been centered on administration’s response to elevated commodity costs and strain to extend manufacturing following warfare in Ukraine. Whereas sustaining steerage and returning 69% of free money circulate to shareholders, it is clear that Coterra (CTRA) stays centered on executing beforehand introduced plans.
[ad_2]
Source link