Q: Hi,
Can you clear up a little confusion regarding the latest earnings report from Cardinal Energy? I scanned the 4th quarter earnings report and it indicates, at least to me that it indicates a diluted share loss of 18c. Yet on my TD investor site it shows a profit of 13c per share.
Am i seeing this right, and would you also be able to give your analysis of their earnings report?
Thanks so much.
Can you clear up a little confusion regarding the latest earnings report from Cardinal Energy? I scanned the 4th quarter earnings report and it indicates, at least to me that it indicates a diluted share loss of 18c. Yet on my TD investor site it shows a profit of 13c per share.
Am i seeing this right, and would you also be able to give your analysis of their earnings report?
Thanks so much.
5i Research Answer:
The loss was 18c per share, vs income of 16c in the same prior period. Per share cash flow was 28c, vs 40c. Revenue, earnings and EBITDA all missed estimates. Production matched estimates. The results largely reflect lower oil prices in the Q4 (which of course have changed). With better pricing, this year should be better, with analysts projecting about 15% growth. The payout ratio however is still very high at more than 100%. We think it is OK but not a compelling buy.