HOUSTON (AP) — HOUSTON (AP) — Coterra Energy Inc. (CTRA) on Thursday reported first-quarter net income of $352 million.
On a per-share basis, the Houston-based company said it had net income of 47 cents. Earnings, adjusted for one-time gains and costs, were 51 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The independent oil and gas company posted revenue of $1.43 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $1.38 billion.
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