Noble Energy's 2Q17 Earnings: Are You Ready?

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Noble Energy's 2Q17 Earnings: Are You Ready? PART 1 OF 5

Noble Energy’s 2Q17 Earnings: Are You Ready?

Noble Energy’s 2Q17 revenue estimates

Noble Energy (NBL) will report its 2Q17 earnings on August 3, 2017. The company’s revenue estimates for 2Q17 stand at $1.06 billion—compared to revenue of $1.03 billion in 1Q17. In 2Q16, Noble Energy reported revenue of $724 million.

Noble Energy&#8217;s 2Q17 Earnings: Are You Ready?

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The above graph on the left notes that Noble’s revenue was higher than expected in the previous two quarters. With a volatile energy price environment, investors will watch to see how things play out for the company in 2Q17.

Noble Energy’s 2Q17 earnings estimates

The estimates for Noble Energy’s 2Q17 earnings are -$0.10 per share. In the previous quarter, Noble Energy reported earnings of -$0.05 per share. In 2Q16, Noble Energy’s earnings were -$0.24 per share.

Like its revenue, Noble Energy’s earnings were better than expected in the previous two quarters.

Peer comparison

In contrast, Noble Energy’s peer Cabot Oil & Gas (COG) is expected to announce 2Q17 EPS (earnings per share) of $0.15. EQT (EQT) is also projected to report 2Q17 EPS of $0.15. To learn more about what to expect for these companies in 2Q17, read What to Expect from Cabot Oil & Gas’s 2Q17 Earnings and How EQT’s 2Q17 and the RICE Deal Could Impact the Stock.

Strategic plans this year

Noble Energy has been concentrating on its US onshore operations as well as its Eastern Mediterranean operations. Towards its goal of focusing more on liquid-rich areas, Noble Energy exited the natural gas–rich Marcellus Shale in May 2017. The proceeds of the sale, which totaled $2 billion, were used for its Clayton Williams acquisition. Earlier this year, Noble Energy enhanced its Delaware position by acquiring Clayton Williams Energy. The transaction included 71,000 net acres in the Southern Delaware Basin in Reeves and Ward counties in Texas. The transaction closed in April 2017.

In the 1Q17 earnings conference, Daniel Stover, Noble Energy’s CEO, said, “With the recent portfolio enhancements, I’m completely confident that our U.S. onshore position has the best assets, our teams will deliver the best execution, and combined, this generates industry-leading production and cash flow growth for years to come.”


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