Encana (ECA) Q1 Earnings Beat On Price And Output Gains
Zacks Investment Research | Apr 30, 2018 10:44PM ET
Encana Corporation (NYSE:ECA) reported first-quarter 2018 operating earnings of 16 cents per share, surpassing the Zacks Consensus Estimate of 13 cents. Increased liquids production along with higher price realizations drove the better-than-expected results.
The bottom line also improved from 11 cents per share reported in the year-ago quarter. Of late, Encana has successfully repositioned its asset base and transitioned to the more profitable crude. Production growth from its core assets: Permian, Montney, Eagle Ford and Duvernay led the company deliver impressive year-over-year results. The four core assets accounted for 94.8% of Encana’s total production, with Montney assets alone accounting for more than half of its output.
Quarterly revenues of $1,313 million also topped the Zacks Consensus Estimate of $1,110 million. Revenues were also higher than the prior-year figure of $1,289 million.
Encana Corporation Price, Consensus and EPS Surprise
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