ARC Resources Ltd reports results for the quarter ended in September 30 - Earnings Summary

ARC Resources

07/11/2024 17:23

* ARC Resources Ltd  ARX.TO  reported quarterly adjusted
earnings
of 55 cents​​ per share for the quarter ended September 30,
higher than the same quarter last year, when the company
reported EPS of 39 cents.  The mean expectation of five analysts
for the quarter was for earnings of 35 cents per share. Wall
Street expected results to range from 30 cents to 40 cents per
share.
    * Revenue fell 13.7% to C$1.21 billion from a year ago;
analysts
expected $1.11 billion. 
    * ARC Resources Ltd's reported EPS for the quarter was 55
cents​.
    * The company reported quarterly net income of C$328.9
million.
    * ARC Resources Ltd shares had risen by 1.0% this
quarter and
gained 17.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 16.7%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 17 "strong buy" or "buy," no
"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 31.00 
This summary was machine generated from LSEG data November 7 at
05:23 p.m. UTC. ​All figures in Canadian 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
 Sep. 30 2024      0.91           0.88           Missed
 Jun. 30 2024      0.87           0.91           Beat
 Mar. 31 2024      0.99           1.06           Beat
 Dec. 31 2023      1.09           1.16           Beat