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What to Expect from Noble Energy’s 1Q16 Earnings

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Noble Energy’s 1Q16 revenue estimates

Noble Energy (NBL) will release its 1Q16 earnings on May 4, 2016. Its 1Q16 revenue estimate is ~$868.3 million. The company’s revenue in 1Q15 was ~$759 million.

In 4Q15, NBL reported revenue of $846 million, which was ~21% lower than 4Q14 revenue. On a quarter-over-quarter basis, revenue rose ~6%. Note that revenues missed analysts’ estimates in all four quarters of 2015.

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NBL’s 1Q16 EPS estimates

NBL’s 1Q16 loss per share estimate is ~$0.49. The company posted 4Q15 EPS of $0.44, which was $0.06 per share higher than 4Q14 EPS and $0.65 per share higher than 3Q15 EPS.

In 3Q15, NBL saw its adjusted earnings turn negative for the first time since 2003. However, NBL’s earnings beat estimates in three out of four quarters in 2015. Thus, investors will be watching to see which direction NBL’s earnings go in relation to estimates.

NBL’s peers EQT Corporation (EQT), Antero Resources (AR), and Cabot Oil & Gas (COG) are expected to report 1Q16 EPS of -$0.03, $0.18, and -$0.12, respectively. These companies make up 8.6% of the iShares U.S. Oil & Gas Exploration & Production ETF (IEO).

NBL’s 2015 revenue and earnings recap

For 2015, NBL reported adjusted revenue of ~$3.1 billion, ~36% lower than 2014 revenue of ~$4.9 billion. For 2015, NBL reported an adjusted profit of $0.52, which was $1.84 per share lower than the 2014 profit of $2.36 per share.

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