Stock Monitor: Aegean Marine Petroleum Network Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 27, 2018 / Active-Investors.com has just released a free earnings report on Encana Corp. (NYSE: ECA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ECA. The Company posted its financial results on February 15, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's total revenues and non-GAAP operating income per diluted share increased y-o-y during the reported quarter; beating Wall Street's estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Aegean Marine Petroleum Network Inc. (NYSE: ANW), which also belongs to the Basic Materials sector as the Company Encana. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Encana most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=ECA
Earnings Highlights and Summary
During Q4 FY17, Encana's total revenues were $1.21 billion, which came in higher than the $822 million recorded in Q4 FY16. The Company's total revenues for the reported quarter also topped market consensus estimates of $1.02 billion.
The oil and gas Company reported a net loss of $229 million, or $0.24 loss per diluted share, in Q4 FY17 compared to a net loss of $281 million, or $0.29 loss per diluted share, in Q4 FY16. The Company's non-GAAP operating earnings increased to $114 million, or $0.12 per diluted share, in Q4 FY17 from $85 million, or $0.09 per diluted share, in the prior year's same quarter. Market analysts had forecasted the Company to report an adjusted net income of $0.10 per share for Q4 FY17.
For the full year FY17, Encana's total revenues stood at $4.44 billion compared to $2.92 billion in FY16. The Company's net income was $827 million, or $0.85 per diluted share, in FY17 versus a net loss of $944 million, or $1.07 loss per diluted share, in FY16. Furthermore, the Company reported non-GAAP operating earnings of $422 million, or $0.43 per diluted share, in FY17 compared to $76 million, or $0.09 per diluted share, in FY16.
Operating Metrics
The Calgary, Alberta-based Company's total operating expenses increased to $948 million in Q4 FY17 from $876 million in the past year's comparable quarter. The Company posted an operating income of $262 million in Q4 FY17 compared to an operating loss of $54 million in Q4 FY16. Furthermore, the Company's net earnings before income taxes stood at $147 million in Q4 FY17 compared to a net loss before income taxes of $251 million in Q4 FY16.
In Q4 FY17, Encana's oil production volume increased 28% to 85.0 thousand barrels per day (MBbls/d) from 66.4 MBbls/d in Q4 FY16. The oil realized price increased to $52.94 per bbl in the reported quarter from $50.78 per bbl in the previous year's corresponding quarter.
The quarterly production volume of natural gas liquids (NGLs)-Plant Condensate totaled 33.7 MBbls/d in Q4 FY17, which was higher than 19.9 MBbls/d in Q4 FY16. The Company's average NGLs-Plant Condensate realized price was $52.65 per bbl in Q4 FY17 compared to $45.39 per bbl in the last year's same quarter.
The NGLs–other production volume surged 50% to 33.9 MBbls/d in Q4 FY17 from 22.6 MBbls/d in Q4 FY16. The Company's realized average price was 24.29 per bbl in Q4 FY17, up from $17.86 per bbl in Q4 FY16.
The Company's NGLs production volume also increased to 1,096 million cubic feet per day (MMcf/d) in Q4 FY17 from 1,276 Bbls in Q4 FY16. Furthermore, NGL released price was $2.34 per Mcf in Q4 FY17 compared to $2.35 per Mcf in Q4 FY16.
The Company's total production was 335.2 thousand barrels of oil equivalent per day (MBOE/d) in the reported quarter compared to 321.5 MBOE/d in Q4 FY16. Meanwhile, the Company's oil and NGLs total production was 152.6 Mbbls/d in Q4 FY17 compared to 108.9 Mbbls/d in Q4 FY16.
Cash Matters and Balance Sheet
For the quarter ended December 31, 2017, Encana's net cash provided by operating activities was $369 million compared to $199 million in the prior year's same quarter. The Company's non-GAAP cash flow stood at $444 million, or $0.46 per diluted share, in Q4 FY17 versus $302 million, or $0.31 per diluted share, in Q4 FY16.
The Company's cash and cash equivalents balance fell to $719 million as on December 31, 2017, from $834 million at the close of books on December 31, 2016. Furthermore, the Company's net long-term debt remained flat at $4.20 billion as on December 31, 2017.
Dividend and Share Repurchase
On February 14, 2018, Encana's Board of Directors declared a dividend of $0.015 per share, payable on March 29, 2018, to common shareholders of record as of March 15, 2018.
The Company announced plans to repurchase up to $400 million of its common shares over the next 12 months through the NCIB. The Company may repurchase up to 35 million common shares during the 12-month period starting February 28, 2018, and ending February 27, 2019.
Stock Performance Snapshot
March 26, 2018 - At Monday's closing bell, Encana's stock advanced 1.03%, ending the trading session at $11.79.
Volume traded for the day: 8.63 million shares.
Stock performance in the last month – up 6.60%; previous six-month period – up 4.80%; and past twelve-month period – up 11.75%
After yesterday's close, Encana's market cap was at $11.64 billion.
Price to Earnings (P/E) ratio was at 9.94.
The stock has a dividend yield of 0.51%.
The stock is part of the Basic Materials sector, categorized under the Major Integrated Oil & Gas industry. This sector was up 2.0% at the end of the session.
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