earnings
confidence high
sentiment positive
materiality 0.75
Coterra Q3 net income $252M; beats production guidance, raises full-year outlook, signs three LNG deals
Coterra Energy Inc.
2024-Q3 EPS reported
$1.10
revenue$4,063,000,000
- Net income $252M ($0.34 EPS); adjusted net income $233M ($0.32 EPS).
- Q3 production beat high-end: 669 MBoepd vs 620-650 guidance; oil 112.3 MBopd vs 107-111.
- Full-year 2024 production guidance raised for BOE, oil, and natural gas; capex lowered $50M to $1.75-1.85B.
- Signed three LNG agreements for 200 MMcfpd, indexed to international prices, starting 2027/2028.
- Quarterly dividend $0.21/share (3.5% yield); $111M share repurchases in Q3; returned 100% of FCF YTD.