How Did Energen’s 2Q16 Earnings Look?
Energen beats 2Q16 EPS estimates
Energen (EGN) announced its 2Q16 earnings on August 8, 2016, after the markets closed. Energen reported an adjusted loss of $0.28 per share, $0.07 better than Wall Street analyst consensus for a loss of $0.35 per share.
Energen’s 2Q16 EPS (earnings per share) were lower by $0.38 per share when compared with a 2Q15 profit of $0.10 per share. But when compared sequentially with 1Q16, EGN’s 2Q16 EPS is higher by $0.36 per share.
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Energen’s 2Q16 revenues beat estimates
For 2Q16, EGN reported adjusted revenues of ~$166 million, ~13% better than Wall Street analyst consensus for revenues of ~$147 million. Energen’s 2Q16 revenues are lower by ~42% when compared with 2Q15 revenues of ~$285 million. But when compared sequentially with 1Q16, Energen’s 2Q16 revenues are higher by ~30%.
Energen’s earnings trend
As seen in the above chart, Energen reported lower earnings in 2015 due to lower realized crude oil (USO) (UWTI) (DWTI) and natural gas (UNG) (BOIL) prices. In 1Q16, EGN saw its adjusted earnings turn negative for the first time since 2002.
Since 2013, Energen has exceeded earnings expectations ~43% of the time. Since 2013, other upstream players like Southwestern Energy (SWN), ConocoPhillips (COP), and EOG Resources (EOG) have beat earnings expectations ~57%, ~64%, and ~93% of the time, respectively.
In this series
In this series, we’ll also look at Energen’s 2Q16 cash flow, operational performance, Wall Street analyst ratings, Energen’s price forecast using implied volatility, and how Energen’s stock price reacted after beating past earnings estimates.
Now let’s take a look at how much cash Energen generated in 2Q16.