Cabot Oil & Gas (COG) Misses Q1 EPS by 3c

Cabot Oil & Gas (NYSE: COG) reported Q1 EPS of $0.32, $0.03 worse than the analyst estimate of $0.35. Revenue for the quarter came in at $459.68 million versus the consensus estimate of $471.5 million.

Second Quarter and Full-Year 2021 Guidance:

Cabot today reaffirmed its guidance for 2021. The Company's operating plan for the year is expected to deliver an average net production rate of 2,350 Mmcfe per day from a capital program of $530 to $540 million. Cabot has also provided its second quarter 2021 production guidance range of 2,225 to 2,275 Mmcfe per day. "Our production guidance for the second quarter implies a slight sequential decline relative to the first quarter, which is a result of lower activity levels and capital spending during the winter season," commented Dinges. "Activity levels are expected to increase in the second and third quarters, resulting in sequential growth during the second half of the year, primarily during the fourth quarter in anticipation of higher natural gas prices and the in-service of the Leidy South expansion project."

For earnings history and earnings-related data on Cabot Oil & Gas (COG) click here.

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