Coterra Energy (NYSE: CTRA) reported Q1 EPS of $0.80, $0.06 better than the analyst estimate of $0.74. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.92 billion.

OUTLOOK

Guidance Updates

Lowered 2025 capital expenditures range (non-GAAP) to $2.0 to $2.3 billion, down from $2.1 to $2.4 billion.

After closing our recent acquisitions in January, we exited the first quarter with 13 rigs in the Permian. Our original plan called for ten rigs in the second half of 2025, but we now plan to operate seven rigs in the second half of the year.

Announcing second-quarter 2025 total equivalent production of 710 to 760 MBoepd, oil production of 147 to 157 MBopd, natural gas production of 2,700 to 2,850 MMcfpd, and capital expenditures (non-GAAP) of $575 to $650 million.
Estimate 2025 Discretionary Cash Flow (non-GAAP) of approximately $4.3 billion and 2025 Free Cash Flow (non-GAAP) of approximately $2.1 billion, at approximately $63 per bbl WTI and $3.70 per mmbtu (metric million British thermal unit) annual average NYMEX assumptions.

For earnings history and earnings-related data on Coterra Energy (CTRA) click here.