Cabot Oil & Gas Q1 Profit Declines - Quick Facts

(RTTNews) - Cabot Oil & Gas Corporation (COG) reported first-quarter net income of $40.26 million or $0.10 per basic share, compared to $107.03 million or $0.26 per basic share, prior year.

On average, 35 analysts polled by Thomson Reuters expected the company to report profit per share of $0.03 for the quarter. Analysts' estimates typically exclude special items.

Revenue decreased to $464.77 million from $509.80 million last year. Analysts expected revenue of $417.25 million for the quarter. Equivalent production in the first quarter of 2015 was 171.4 Bcfe, consisting of 161.8 billion cubic feet (Bcf) of natural gas and 1.6 Mmbbls of liquids. These figures represent increases of 43 percent, 40 percent, and 132 percent, respectively, compared to the first quarter of 2014.

The company has provided second quarter net production guidance of 1,375 to 1,425 Mmcf per day and 17,500 to 18,250 Bbls per day for natural gas and liquids, respectively. Cabot's full-year production growth guidance range of 10 to 18 percent remains unchanged.