Cabot Oil & Gas’s 3Q16 revenue
Cabot Oil & Gas (COG) reported its 3Q16 earnings on October 28, 2016. Its 3Q16 revenue was $310.0 million, which was in line with analyst estimates. Revenue in 3Q15 was ~$305.0 million. In 2Q16 it was $247.0 million.
Cabot reported an adjusted net loss of $16.7 million in 3Q16. Adjusted net loss in the corresponding period in 2015 was $2.2 million. The company reported adjusted EPS (earnings per share) of -$0.04, which was in line with Wall Street analysts’ consensus estimate.
As you can see in the above graph, Cabot Oil & Gas’s earnings and revenues were in line with analysts’ expectations in 3Q16.
Key management comments in 3Q16
COG’s CEO (chief executive officer) Dan Dinges noted in a 3Q16 press release, “We have been successful at creating a free cash flow positive investment program that still generates growth, while simultaneously driving down our cost structure and our resulting breakeven levels.”
He added, “The volatility in commodity prices continues to challenge our industry and has driven us to be more efficient.”
Dinges said in the 3Q16 earnings conference call that Cabot generated positive free cash flow in 3Q16. Production rose 6.0% year-over-year, in spite of its maintenance projects and unplanned downtime during 3Q16.