ARC Resources Ltd reports results for the quarter ended in March - Earnings Summary

ARC Resources

10/05/2024 05:35

* ARC Resources Ltd  ARX.TO  reported quarterly adjusted
earnings
of 31 cents​​ per share for the quarter ended in March, lower
than the same quarter last year, when the company reported EPS
of 93 cents.  The mean expectation of three analysts for the
quarter was for earnings of 40 cents per share. Wall Street
expected results to range from 37 cents to 44 cents per share.
    * Revenue was C$1.31 billion​; analysts expected $1.08
billion. 
    * ARC Resources Ltd's reported EPS for the quarter was 31
cents​.
    * The company reported quarterly net income of C$185.4
million.
    * ARC Resources Ltd shares had risen by 6.5% this
quarter and
gained 30.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.8%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 15 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
exploration and production peer group is also "buy"

Wall Street's median 12-month price target for ARC Resources Ltd
is C$29.50 
This summary was machine generated from LSEG data May 10 at
04:34 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.99           1.06           Beat
 Dec. 31 2023      1.09           1.16           Beat
 Sep. 30 2023      1.08           0.99           Missed
 Jun. 30 2023      0.92           0.90           Missed