Q: Comments on cj latest quarter. cardinal energy
5i Research Answer:
EPS of 6c missed estimates of 13c; revenue of $166.6M beat estimates of $161.5M. EBITDA of $55.6M missed estimates by 15%. Production rose 18% year over year. Revenue rose 11%. Bank debt was reduced 53% with the equity financing. Net debt is now less than 1x cash flow. The capital budget was increased. Not perfect numbers, but as long as production grows we think CJ is OK. The stock has done very well with higher commodity prices and good overall cash flow and earnings growth is expected this year.