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What to Expect from Cabot Oil and Gas’s 1Q16 Earnings

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Cabot Oil and Gas’s 1Q16 revenue estimates

Cabot Oil and Gas (COG) will release its 1Q16 earnings on April 29, 2016. The company’s 1Q16 revenue estimates stand at ~$267.4 million, and its revenue in 1Q15 was ~$464.7 million.

In 4Q15, Cabot Oil and Gas reported adjusted revenue of ~$327 million. The consensus Wall Street estimate for revenue was ~$333 million. The 4Q15 revenue was ~48% lower than the 4Q14 revenue of $618 million.

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Cabot’s 1Q16 earnings per share estimates

Cabot Oil and Gas’s (COG) 1Q16 loss per share estimate is ~$0.12. COG’s 4Q15 adjusted loss per share was $0.02. The consensus Wall Street estimate was an ~$0.04 loss per share. In comparison, the 4Q14 earnings per share (or EPS) was $0.23.

COG’s 4Q15 loss came in lower than expected due to its hedges and lower operating costs. The operating costs for 4Q15 were $440.3 million, ~61% lower than 4Q14 operating costs of ~$1.1 billion. However, as we saw above, analysts are expecting 1Q16 earnings to fall significantly as compared to previous quarters.

COG’s peers EQT Corp (EQT), Antero Resources (AR), and Noble Energy (NBL) are expected to report 1Q16 earnings per share of -$0.03, $0.18, and -$0.50, respectively. These companies make up 8.6% of the iShares US Oil and Gas Exploration and Production ETF (IEO).

Cabot’s fiscal 2015 revenue and earnings recap

For fiscal 2015, Cabot Oil and Gas’s (COG) reported adjusted earnings per share of $0.13. The comparable earnings in 2014 were $0.97 per share. COG’s 2015 revenue came in at ~$1.5 billion. Comparable revenue in 2014 was ~$2.2 billion.

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