Canadian Natural Resources tops Q3 expectations with $1.03B profit

Canadian Natural Resources Ltd. says it earned $1.03 billion in its latest quarter, down from $1.80 billion in the same quarter last year.

The Calgary-based company says the profit amounted to 87 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $1.47 per diluted share a year ago.

Revenue totalled $6.16 billion, up from nearly $5.90 billion.

Canadian Natural says its adjusted profit from operations amounted to $1.04 per diluted share, down from $1.11 per diluted share in the same quarter last year.

Analysts on average had expected a profit of 77 cents per share, according to financial markets data firm Refinitiv.

Daily production in the quarter averaged almost 1.2 million barrels of oil equivalent per day, up from nearly 1.1 million boe per day in the same quarter last year.

Read more at CBC.ca