Q1 25 EPS
$0.80
BEAT +1.85%
Est. $0.79
Q1 25 Revenue
$1.90B
MISS 4.41%
Est. $1.99B
vs S&P Since Q1 25
+18.1%
BEATING MARKET
CTRA +47.0% vs S&P +29.0%
Market Reaction
Did CTRA Beat Earnings? Q1 2025 Results
Coterra Energy posted a mixed but strategically significant first quarter for 2025, beating on earnings while falling short on the top line as the company navigated a volatile commodity backdrop. Adjusted EPS came in at $0.80, edging past the $0.79 c… Read more Coterra Energy posted a mixed but strategically significant first quarter for 2025, beating on earnings while falling short on the top line as the company navigated a volatile commodity backdrop. Adjusted EPS came in at $0.80, edging past the $0.79 consensus by 1.85%, while revenue of $1.90 billion trailed estimates by 4.41%, though it still reflected robust 32.9% year-over-year growth. The key driver behind the quarter was Coterra's $3.22 billion acquisition of Franklin Mountain Energy and Avant Natural Resources, closed in late January, which expanded production capacity and pushed total equivalent output to 747 MBoepd, near the high end of guidance. Natural gas production of 3,044 MMcfpd exceeded the top of its guidance range entirely. Looking ahead, Coterra is pivoting meaningfully in response to weaker oil prices, cutting Permian rig count by 30% in the second half while adding Marcellus gas exposure, trimming its full-year capital budget to $2.00 to $2.30 billion, and targeting roughly $2.10 billion in free cash flow at updated strip assumptions of $63.00 WTI and $3.70 Henry Hub.
Key Takeaways
- • Total equivalent production of 747 MBoepd near the high end of guidance range (710–750 MBoepd)
- • Natural gas production of 3,044 MMcfpd exceeded the high end of guidance (2,850–3,000 MMcfpd)
- • Oil production averaged 141.2 MBopd, approximately 2% above midpoint of guidance
- • Natural gas realized price of $3.28/Mcf (up from $2.00/Mcf in Q1 2024)
- • Closed Franklin Mountain Energy and Avant Natural Resources acquisitions in late January, expanding Permian Basin operations
- • Capital expenditures (non-GAAP) of $552 million in the lower half of guidance range
- • Adjusted EBITDAX of $1,337 million, up from $917 million in Q1 2024
CTRA YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
CTRA Revenue by Segment
With YoY comparisons, source: SEC Filings
“The company's top-tier balance sheet, diversified portfolio of high-quality oil and natural gas-focused assets and low reinvestment rate position Coterra to prosper throughout cyclical commodity price environments.”
— Tom Jorden, Q1 2025 Earnings Press Release
CTRA Earnings Trends
CTRA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CTRA EPS Trend
Earnings per share: estimate vs actual
CTRA Revenue Trend
Quarterly revenue: estimate vs actual
CTRA Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | — | — |
| Q4 25 MISS FY | $0.52 | $0.39 | -24.39% | $1.96B | -2.04% |
| FY Full Year | $2.15 | $2.08 | -3.36% | $7.65B | +1.05% |
| Q3 25 MISS | $0.43 | $0.41 | -4.76% | $1.82B | +3.59% |
| Q2 25 BEAT | $0.45 | $0.48 | +6.95% | $1.97B | +16.53% |
| Q1 25 BEAT | $0.79 | $0.80 | +1.85% | $1.90B | -4.41% |