leadf
logo-loader
viewNoble Energy, Inc.

Noble Energy 2Q misses on profit and EPS as shares take a hit in premarket

The independent oil and gas company swung to a loss but slightly beat revenue expectations

oil barrels
Full-year 2018 sales volumes are estimated to be toward the lower end of the company's full-year range

Noble Energy (NYSE:NBL) widely missed Wall Street estimates for its second quarter Friday, as earnings per share sharply reversed from a profit in the same quarter last year, dragging down the shares.

The oil and gas company reported a net loss of US$23mn, or US$0.05 per share, off sharply from the average consensus estimate for a profit of US$0.22 per share. A year ago, Noble Energy reported EPS of US$0.05.

Shares of Noble fell about 7% to US$33.31 in early trading after the bell.

Total sales volume declined 15.2% to 346,000 barrels of oil equivalent/day (bope/d) in the second quarter, although revenue hit US$1.23bn, above consensus expectations of US$1.14bn.

Full-year 2018 sales volumes are estimated to be toward the lower end of the company's full-year range of 350 to 360 mboe/d, resulting from deferred completion activity in the Delaware and Eagle Ford areas.

Noble Energy is an independent energy company involved in the exploration and production of crude oil, natural gas and natural gas liquids around the world.

Quick facts: Noble Energy, Inc.

Price: 8.45 USD

NYSE:NBL
Market: NYSE
Market Cap: $4.1 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Quadrise Fuels International completes industrial pilot for alternative fuel...

Quadrise Fuels International PLC's (LON:QFI) Mike Kirk and Jason Miles talk to Proactive's London's Katie Pilbeam about the completion of their alternative fuel trial, MSAR, at an international chemical group customer’s plant in Morocco. Kirk explains the potential and opportunities for their...

18 hours, 33 minutes ago

2 min read