Latest news with #netearnings
Yahoo
3 days ago
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Canadian Natural Resources Ltd (CNQ) Q2 2025 Earnings Call Highlights: Strong Financial ...
Adjusted Fund Flow: Approximately $3.3 billion in Q2 2025. Adjusted Net Earnings: $1.5 billion in Q2 2025. Quarterly Production Volumes: 1.420 million BOEs per day, including 1.019 million barrels per day of liquids and 2.4 Bcf per day of natural gas. Oil Sands Mining and Upgrading Production: 463,800 barrels per day of SCO, a 13% increase from Q2 2024. Heavy Oil Operating Cost: $17.44 per barrel in Q2 2025. Pelican Lake Operating Cost: $9.01 per barrel in Q2 2025. Light Oil and NGL Operating Cost: $10.94 per barrel, a 24% decrease from Q2 2024. North American Natural Gas Production: 2.4 Bcf per day, a 14% increase from Q2 2024. Thermal In Situ Production: 274,800 barrels per day, a 3% increase from Q2 2024. Oil Sands Mining and Upgrading Cost: $26.53 per barrel of SCO, a 2% increase from Q2 2024. Returns to Shareholders: $1.6 billion in Q2 2025, including $1.2 billion in dividends and $400 million in share repurchases. Net Debt: Below $17 billion at quarter end. Debt to EBITDA: 0.9 times. Liquidity: Over $4.8 billion. Quarterly Dividend: $0.5875 per common share, payable on October 3, 2025. Warning! GuruFocus has detected 4 Warning Signs with GMAB. Release Date: August 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Canadian Natural Resources Ltd (NYSE:CNQ) achieved strong operational performance with high production and upgrader utilization rates, particularly in oil sands mining and upgrading. The company completed a planned turnaround at AOSP five days ahead of schedule and on budget, demonstrating operational efficiency. Recent accretive acquisitions have added approximately 82,000 BOEs per day of production, enhancing the company's asset base and production capacity. The company maintained a disciplined approach to capital allocation, resulting in strong financial results with adjusted fund flow of approximately $3.3 billion and adjusted net earnings of $1.5 billion. Canadian Natural Resources Ltd (NYSE:CNQ) returned $1.6 billion to shareholders in the quarter, including $1.2 billion in dividends and $400 million in share repurchases, highlighting a strong commitment to shareholder returns. Negative Points The delayed closing of the Palliser Block acquisition resulted in lower-than-expected production additions for the second quarter. Operating costs for oil sands mining and upgrading increased by 2% compared to the previous year, reflecting the AOSP turnaround. Pelican Lake production decreased by 4% from the second quarter of 2024, indicating challenges in maintaining production levels. The company faces potential refinancing needs in 2026 due to upcoming debt maturities, which could impact financial flexibility. The WCS heavy differential remains a concern, with potential fluctuations due to OPEC production levels and North American refinery turnaround timing. Q & A Highlights Q: How is Canadian Natural Resources approaching liquidity management given the upcoming maturities in 2027? A: Victor Darel, Senior Vice President - Finance, stated that the company's cash flow generation looks strong, and refinancing needs may be lower than anticipated. They will assess refinancing requirements and choose an opportune time to address them as they approach 2026. Q: Can you discuss the potential for secondary recovery and water flooding in your portfolio? A: Scott Stauth, President and CEO, mentioned that they are testing a polymer flood in the Clearwater and have implemented a water flood in the Smith area. These activities are being pursued alongside their multilateral drilling efforts. Q: What is your view on the current M&A environment and the policy landscape for acquisitions? A: Scott Stauth explained that recent acquisitions have been accretive, adding immediate cash flow and inventory for development. The company focuses on acquisitions that enhance shareholder value rather than just growth. They are comfortable with the policy environment and see opportunities for operational improvements. Q: How does the AOSP transaction impact your operations and production strategy? A: Scott Stauth noted that the transaction allows for 100% ownership of the mine, enabling synergies with Horizon. This includes optimizing equipment and warehousing, which can lead to cost savings. There are significant opportunities to increase production at both Horizon and AOSP. Q: What is your outlook on the WCS heavy differential and SCO premium? A: Scott Stauth expects the WCS differential to range between $10 to $13, influenced by factors like OPEC production and North American refinery turnarounds. For SCO, the differential is anticipated to vary between minus $1.50 to plus $1.50, with no structural shifts expected. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
5 days ago
- Business
- CTV News
Parkland Corp. reports second-quarter earnings up ahead of Sunoco takeover
A boat travels past the Parkland Burnaby Refinery on Burrard Inlet at sunset in Burnaby, B.C., on Saturday, April 17, 2021. THE CANADIAN PRESS/Darryl Dyck CALGARY — Parkland Corp. says its second-quarter net earnings were up as the fuel refiner prepares for a takeover by U.S. company Sunoco LP. The Calgary-based company says net earnings for the period ending June 30 were $172 million, up from $70 million a year ago. Parkland says net earnings amounted to 97 cents per diluted share compared with 39 cents per diluted share a year earlier. On an adjusted basis, the company says it earned $508 million, an increase from $504 million in the second quarter of 2024. Chief executive Bob Espey says the firm's Burnaby refinery helped deliver above mid-cycle refining margins, which reflect Parkland's potential to grow as it merges with Sunoco. The takeover is expected to be completed during the second half of this year. This report by The Canadian Press was first published Aug. 6, 2025. Companies in this story: (TSX: PKI) The Canadian Press
Yahoo
5 days ago
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Parkland Corp. reports second-quarter earnings up ahead of Sunoco takeover
CALGARY — Parkland Corp. says its second-quarter net earnings were up as the fuel refiner prepares for a takeover by U.S. company Sunoco LP. The Calgary-based company says net earnings for the period ending June 30 were $172 million, up from $70 million a year ago. Parkland says net earnings amounted to 97 cents per diluted share compared with 39 cents per diluted share a year earlier. On an adjusted basis, the company says it earned $508 million, an increase from $504 million in the second quarter of 2024. Chief executive Bob Espey says the firm's Burnaby refinery helped deliver above mid-cycle refining margins, which reflect Parkland's potential to grow as it merges with Sunoco. The takeover is expected to be completed during the second half of this year. This report by The Canadian Press was first published Aug. 6, 2025. Companies in this story: (TSX: PKI) The Canadian Press Sign in to access your portfolio
CTV News
5 days ago
- Business
- CTV News
Great-West Lifeco says Q2 net earnings down 11% but base earnings hit record high
Great-West Life world headquarters is pictured in Winnipeg on February 19, 2013. THE CANADIAN PRESS/John Woods WINNIPEG — Great-West Lifeco Inc. says its second-quarter net earnings dropped 11 per cent from a year ago but its base earnings reached a record high. The Winnipeg-based insurance company says its net earnings for the period ended June 30 amounted to $894 million while its base earnings totalled more than $1.1 billion. Its net earnings from continued operations linked to Canada reached $255 million compared with $373 million a year before. By comparison, the U.S. part of its business had net earnings from continued operations of $305 million compared with $281 million a year prior. The European portion totalled $126 million compared with $231 million a year before. The results came as Great-West Lifeco approved a quarterly dividend of 61 cents per share. --- This report by The Canadian Press was first published Aug. 6, 2025.
Yahoo
5 days ago
- Business
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Great-West Lifeco says Q2 net earnings down 11% but base earnings hit record high
WINNIPEG — Great-West Lifeco Inc. says its second-quarter net earnings dropped 11 per cent from a year ago but its base earnings reached a record high. The Winnipeg-based insurance company says its net earnings for the period ended June 30 amounted to $894 million while its base earnings totalled more than $1.1 billion. Its net earnings from continued operations linked to Canada reached $255 million compared with $373 million a year before. By comparison, the U.S. part of its business had net earnings from continued operations of $305 million compared with $281 million a year prior. The European portion totalled $126 million compared with $231 million a year before. The results came as Great-West Lifeco approved a quarterly dividend of 61 cents per share. This report by The Canadian Press was first published Aug. 6, 2025. Companies in this story: (TSX:GWO) The Canadian Press
