CNQ Earnings Prediction
The chart below shows how CNQ performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CNQ sees a -0.77% change in stock price 10 days leading up to the earnings, and a +0.48% change 10 days following the report. On the earnings day itself, the stock moves by +1.15%. This data can give you a slight idea of what to expect for the next quarter's release.
CNQ Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
8.89B
-10.13%
-1.75%
Gross Margin
33.75%
-16.93%
10.37%
Operating Margin
32.85%
-10.05%
11.89%
Net Margin
25.48%
7.56%
34.46%
EPS
1.06
-50.23%
32.50%
No Data Available
CNQ Earnings Analysis
Canadian Natural Resources Limited Corporation (CNQ.N) Earnings Conference Call
Positive
Record Production Achievements: 1. Strong Production Levels: Achieved average production of approximately 1.363 million BOEs in Q3 2024, including a record monthly production of approximately 529,000 barrels per day of SCO in August.
Operating Cost Reduction: 2. Top-Tier Operating Costs: Reported quarterly operating costs of CAD20.67 per barrel in oil sands mining and upgrading, a 7% decrease compared to Q3 2023, reflecting higher production volumes and lower energy costs.
Free Cash Flow Generation: 3. Significant Free Cash Flow Generation: Generated adjusted funds flow of CAD3.9 billion in Q3 2024, demonstrating robust financial performance and ability to return value to shareholders.
Shareholder Return Enhancement: 4. Increased Shareholder Returns: Returned CAD1.9 billion to shareholders in Q3 2024 through dividends and share buybacks, with a year-to-date total of approximately CAD6.7 billion.
Dividend Growth Announcement: 5. Dividend Increase: Announced a 7% increase in the quarterly dividend to CAD56.25 per share, marking the 25th consecutive year of dividend increases, reflecting confidence in sustainable free cash flow generation.
Negative
Natural Gas Production Decline: 1. Declining Natural Gas Production: North American natural gas production averaged 2 Bcf during Q3 2024, a decrease of 5% compared to Q3 2023, primarily due to previously announced deferrals and natural field declines.
Pelican Lake Production Decline: 2. Reduced Pelican Lake Production: Pelican Lake production averaged approximately 45,100 barrels per day in Q3 2024, down 4% from Q3 2023, reflecting low field declines from this long-life asset.
Decline in Crude Production: 3. Lower North American Light Crude Oil Production: North American light crude oil and NGL production averaged approximately 106,300 barrels per day in Q3 2024, down 3% from Q3 2023, primarily due to temporary processing facility outages and rail transportation restrictions.
Thermal Production Decline: 4. Decreased Thermal In Situ Production: Thermal in situ operations averaged just over 271,500 barrels per day in Q3 2024, down 5% from Q3 2023, primarily due to cyclical production nature and natural field declines.
Natural Gas Well Reduction: 5. Reduced Natural Gas Well Drilling: The company is now targeting to drill a total of 74 net natural gas wells in 2024, which is 17 fewer compared to the original budget, reflecting continued low natural gas prices.
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CNQ Earning Call Sentiment
Canadian Natural Resources Limited (CNQ) Q3 2024 Earnings Call Transcript
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CNQ.N
-1.12%Positive
The earnings call shows strong financial health with a 7% dividend increase and consistent shareholder returns. Despite production declines, the company is optimizing costs and exploring growth opportunities, such as the TMX deal. The Q&A reveals a focus on cost savings and efficiency, although management was vague about future budgets. Overall, the positive sentiment from financial stability and strategic initiatives outweighs concerns, suggesting a likely stock price increase.