CNQ FY 2014 Earnings Report — Canadian Natural Resources Limited Revenue & Financial Results | Market Cap Arena

Canadian Natural Resources LimitedCNQ

FY 2014 Earnings

Reported March 25, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$15.6B	—	$13.1B	—	18.7%
Op. Income	$3.6B	—	$2.3B	—	53.7%
Gross Margin	25.8%	—	21.2%	—	4.6pp
Net Margin	18.4%	—	12.6%	—	5.8pp
EPS (Diluted)	$1.32	—	$0.76	—	73.1%
Free Cash Flow	-$2.1B	—	$5M	—	-42085.7%

Revenue Flow

Item	Amount
REVENUE	$15.6B
Cost of Revenue	$11.6B
GROSS PROFIT	$4.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$317M
SG&A Expenses	$317M
Other Expenses	$141M
Operating Expenses	$4.0B
Cost & Expenses	$12.0B
OPERATING INCOME	$3.6B
Interest Income	$0
Interest Expense	$236M
Other Income/Expenses	$222M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$903M
Net Income from Continuing Ops	$2.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.9B
D&A	$3.6B
EBIT	$4.0B
EBITDA	$7.6B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$15.6B
Cost of Revenue	$11.6B
GROSS PROFIT	$4.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$317M
SG&A Expenses	$317M
Other Expenses	$141M
Operating Expenses	$4.0B
Cost & Expenses	$12.0B
OPERATING INCOME	$3.6B
Interest Income	$0
Interest Expense	$236M
Other Income/Expenses	$222M
INCOME BEFORE TAX	$3.8B
Income Tax Expense	$903M
Net Income from Continuing Ops	$2.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.9B
D&A	$3.6B
EBIT	$4.0B
EBITDA	$7.6B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.9B
Depreciation & Amortization	$3.4B
Stock-Based Compensation	$48M
Deferred Income Tax	$590M
Other Non-Cash Items	-$140M
Change in Working Capital	-$544M
OPERATING CASH FLOW	$6.2B
Capital Expenditure	-$7.5B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$194M
NET CASH FROM INVESTING	-$8.2B
Net Debt Issuance	$2.7B
Common Stock Repurchased	-$331M
Common Dividends Paid	-$699M
Other Financing Activities	$341M
NET CASH FROM FINANCING	$2.0B
FREE CASH FLOW	-$2.1B
Net Change in Cash	$7M

Balance Sheet

Item	Amount
Cash & Equivalents	$18M
Short-Term Investments	$0
Net Receivables	$1.5B
Inventory	$486M
Other Current Assets	$373M
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$41.0B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$493M
TOTAL NON-CURRENT ASSETS	$41.5B
TOTAL ASSETS	$44.0B
Account Payables	$413M
Short-Term Debt	$717M
Deferred Revenue	$0
Other Current Liabilities	$233M
TOTAL CURRENT LIABILITIES	$3.8B
Long-Term Debt	$9.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$6.6B
Other Non-Current Liabilities	$3.1B
TOTAL NON-CURRENT LIABILITIES	$19.1B
TOTAL LIABILITIES	$22.9B
Common Stock	$3.2B
Additional Paid-In Capital	$3.2B
Retained Earnings	$17.9B
Treasury Stock	$0
Accum. Other Comp. Income	$37M
Other Equity	-$3.2B
TOTAL STOCKHOLDERS' EQUITY	$21.1B
Minority Interest	$0
TOTAL EQUITY	$21.1B
TOTAL LIABILITIES & EQUITY	$44.0B
Total Debt	$10.2B
Net Debt	$10.2B