Coterra Energy Q2 Adj EPS $0.39 Beats $0.36 Estimate, Sales $1.19B Miss $1.28B Estimate
Portfolio Pulse from Benzinga Newsdesk
Coterra Energy's Q2 adjusted earnings per share of $0.39 beat the analyst consensus estimate of $0.36 by 8.33%, but represented a 71.11% decrease from the same period last year. The company's quarterly sales of $1.19 billion missed the analyst consensus estimate of $1.28 billion by 7.42%, and marked a 53.93% decrease from the same period last year.
August 07, 2023 | 8:06 pm
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NEGATIVE IMPACT
Coterra Energy's Q2 earnings beat estimates but were significantly lower than last year. Sales also missed estimates and were down from last year.
Coterra Energy's Q2 earnings beat estimates, which could be seen as a positive signal. However, the significant year-over-year decrease in both earnings and sales, as well as the missed sales estimate, could negatively impact investor sentiment and put downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100