Mining & Metals
Canadian Natural Resources' Q1 Adjusted Net Earnings Rise YoY
Canadian Natural Resources (CNQ.TO) reported a small year-over-year increase in adjusted net earnings in the first quarter.Adjusted net earnings from operations were C$2.45 billion, or $1.17 per share, up from $2.44 billion, or $.16 per share. The result beat the consensus earnings per share estimate of $1.05 as compiled by FactSet.Adjusted funds flow was $4.37 billion, or $2.09 per share, down from $4.53 billion, or $2.15 per share.The company produced 1.6 million barrels of oil equivalent per day, an increase of 61,000 BOE/d or 4% from the year-ago period.Additionally, the company's board declared a quarterly cash dividend on Canadian Natural common shares of $0.625 per share. The dividend will be payable on July 7 to shareholders of record at the close of business on June 19.
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