Coterra Energy Q3 Adj $0.32 Misses $0.34 Estimate, Sales $1.36B Beat $1.30B Estimate
Portfolio Pulse from Benzinga Newsdesk
Coterra Energy reported Q3 earnings of $0.32 per share, missing the $0.34 estimate, but sales of $1.36 billion beat the $1.30 billion estimate. Earnings decreased by 36% from last year, while sales increased slightly by 0.22%.
October 31, 2024 | 8:06 pm
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NEGATIVE IMPACT
Coterra Energy's Q3 earnings per share missed estimates, coming in at $0.32 versus the expected $0.34, marking a 36% decline from last year. However, sales exceeded expectations at $1.36 billion, slightly up from last year.
The miss on earnings per share is likely to negatively impact Coterra Energy's stock price in the short term, despite the sales beat. The significant year-over-year decline in earnings further adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100