Cabot Oil & Gas Q1 Profit More Than Doubles - Quick Facts

(RTTNews) - Cabot Oil & Gas Corp. (COG) reported Thursday first-quarter net income of $107.03 million or $0.26 per share, up from $42.82 million or $0.10 per share in the prior-year quarter.

Adjusted earnings for the quarter were $109.72 million or $0.26 per share. On average, 30 analysts polled by Thomson Reuters expected the company to earn $0.26 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues for the quarter surged to $509.80 million from $373.29 million in the same quarter last year. Analysts expected revenues of $521.97 million.

Looking ahead, the company tightened its 2014 production guidance range to 530 - 585 Bcfe from 519 - 598 Bcfe, and initiated 2015 production growth guidance at 20 - 30 percent. Cabot's 2014 capital budget guidance has also increased to $1.375 - $1.475 billion.