CNQ Q3 2018 Earnings Report — Canadian Natural Resources Limited Revenue & Financial Results | Market Cap Arena

Canadian Natural Resources LimitedCNQ

Q3 2018 Earnings

Reported September 29, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2018	Q2 2018	Q3 2017	QoQ Change	YoY Change
Revenue	$4.6B	$4.7B	$3.3B	-1.0%	39.1%
Op. Income	$1.4B	$1.2B	$369M	19.6%	284.5%
Gross Margin	31.2%	30.0%	16.2%	1.2pp	15.1pp
Net Margin	28.5%	15.4%	15.0%	13.1pp	13.4pp
EPS (Diluted)	$0.54	$0.29	$0.20	85.0%	164.3%
Free Cash Flow	$1.6B	$1.2B	$361M	31.8%	351.5%

Revenue Flow

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$3.2B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	-$6M
SG&A Expenses	-$6M
Other Expenses	$34M
Operating Expenses	$29M
Cost & Expenses	$3.2B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$132M
Other Income/Expenses	$151M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$251M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$955M
EBIT	$1.7B
EBITDA	$2.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$3.2B
GROSS PROFIT	$1.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	-$6M
SG&A Expenses	-$6M
Other Expenses	$34M
Operating Expenses	$29M
Cost & Expenses	$3.2B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$132M
Other Income/Expenses	$151M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$251M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.3B
D&A	$955M
EBIT	$1.7B
EBITDA	$2.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$673M
Stock-Based Compensation	-$62M
Deferred Income Tax	$107M
Other Non-Cash Items	-$22M
Change in Working Capital	$650M
OPERATING CASH FLOW	$2.7B
Capital Expenditure	-$818M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$110M
NET CASH FROM INVESTING	-$925M
Net Debt Issuance	-$1.1B
Common Stock Repurchased	-$317M
Common Dividends Paid	-$299M
Other Financing Activities	$34M
NET CASH FROM FINANCING	-$1.7B
FREE CASH FLOW	$1.6B
Net Change in Cash	$83M

Balance Sheet

Item	Amount
Cash & Equivalents	$217M
Short-Term Investments	$481M
Net Receivables	$1.4B
Inventory	$818M
Other Current Assets	$46M
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$49.5B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$910M
TOTAL NON-CURRENT ASSETS	$50.4B
TOTAL ASSETS	$53.6B
Account Payables	$737M
Short-Term Debt	$366M
Deferred Revenue	$0
Other Current Liabilities	$392M
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$14.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$8.3B
Other Non-Current Liabilities	$3.4B
TOTAL NON-CURRENT LIABILITIES	$25.7B
TOTAL LIABILITIES	$29.2B
Common Stock	$6.9B
Additional Paid-In Capital	$6.9B
Retained Earnings	$17.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$24M
Other Equity	-$6.9B
TOTAL STOCKHOLDERS' EQUITY	$24.4B
Minority Interest	$0
TOTAL EQUITY	$24.4B
TOTAL LIABILITIES & EQUITY	$53.6B
Total Debt	$14.4B
Net Debt	$14.2B