CNQ Q4 2022 Earnings Report — Canadian Natural Resources Limited Revenue & Financial Results | Market Cap Arena

Canadian Natural Resources LimitedCNQ

Q4 2022 Earnings

Reported March 22, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2022	Q3 2022	Q4 2021	QoQ Change	YoY Change
Revenue	$7.1B	$9.2B	—	-22.9%	—
Op. Income	$3.2B	$3.3B	—	-3.7%	—
Gross Margin	49.3%	37.3%	—	12.0pp	—
Net Margin	15.7%	22.4%	—	-6.7pp	—
EPS (Diluted)	$0.50	$0.92	—	-45.2%	—
Free Cash Flow	$2.4B	$3.6B	—	-33.3%	—

Revenue Flow

Item	Amount
REVENUE	$7.1B
Cost of Revenue	$3.6B
GROSS PROFIT	$3.5B
R&D Expenses	$0
Selling & Marketing	$233M
General & Administrative	$79M
SG&A Expenses	$312M
Other Expenses	$0
Operating Expenses	$312M
Cost & Expenses	$3.9B
OPERATING INCOME	$3.2B
Interest Income	$0
Interest Expense	$56M
Other Income/Expenses	-$1.9B
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$139M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$984M
EBIT	$825M
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$7.1B
Cost of Revenue	$3.6B
GROSS PROFIT	$3.5B
R&D Expenses	$0
Selling & Marketing	$233M
General & Administrative	$79M
SG&A Expenses	$312M
Other Expenses	$0
Operating Expenses	$312M
Cost & Expenses	$3.9B
OPERATING INCOME	$3.2B
Interest Income	$0
Interest Expense	$56M
Other Income/Expenses	-$1.9B
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$139M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$984M
EBIT	$825M
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$0
Stock-Based Compensation	$233M
Deferred Income Tax	-$430M
Other Non-Cash Items	$2.0B
Change in Working Capital	$378M
OPERATING CASH FLOW	$3.3B
Capital Expenditure	-$901M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$21M
NET CASH FROM INVESTING	-$922M
Net Debt Issuance	-$1.1B
Common Stock Repurchased	-$545M
Common Dividends Paid	-$609M
Other Financing Activities	$80M
NET CASH FROM FINANCING	-$2.1B
FREE CASH FLOW	$2.4B
Net Change in Cash	$259M

Balance Sheet

Item	Amount
Cash & Equivalents	$672M
Short-Term Investments	$359M
Net Receivables	$2.6B
Inventory	$1.3B
Other Current Assets	$202M
TOTAL CURRENT ASSETS	$5.2B
PP&E (Net)	$50.1B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$404M
TOTAL NON-CURRENT ASSETS	$50.5B
TOTAL ASSETS	$55.6B
Account Payables	$980M
Short-Term Debt	$295M
Deferred Revenue	$0
Other Current Liabilities	$1.4B
TOTAL CURRENT LIABILITIES	$6.3B
Long-Term Debt	$8.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$7.4B
Other Non-Current Liabilities	$5.0B
TOTAL NON-CURRENT LIABILITIES	$21.4B
TOTAL LIABILITIES	$27.7B
Common Stock	$7.5B
Additional Paid-In Capital	$0
Retained Earnings	$20.2B
Treasury Stock	$0
Accum. Other Comp. Income	$153M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$27.9B
Minority Interest	$0
TOTAL EQUITY	$27.9B
TOTAL LIABILITIES & EQUITY	$55.6B
Total Debt	$9.5B
Net Debt	$8.8B