Canadian Natural Resources reports $987M Q1 profit, down from $1.8B a year ago
CALGARY -
Canadian Natural Resources Ltd. reported its first-quarter profit fell compared with a year ago as it realized lower prices for synthetic crude oil and natural gas.
The company says it earned $987 million or 91 cents per diluted share for the quarter ended March 31.
The result was down from a profit of $1.80 billion or $1.62 per diluted share a year earlier.
Product sales totalled $9.42 billion, down from $9.55 billion in the first quarter of 2023.
Production in the quarter averaged 1,333,502 barrels of oil equivalent per day, up from 1,319,391 a year ago.
On an adjusted basis, Canadian Natural says its earnings from operations amounted to $1.37 per diluted share in its latest quarter, down from $1.69 per diluted share in the same quarter last year.
This report by The Canadian Press was first published May 2, 2024.
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