Market Impact: Neutral. COS' 3Q15 results were highlighted by CFPS of $0.17/share (FCC -$0.01/share, survey average $0.01/share) that beat our and the street's expectations, largely due to a higher realized SCO price than we had anticipated, while operating expense was lower than we expected. We don't expect the stock to react to quarterly disclosures, as COS' share price is being supported by a hostile bid from Suncor. The Centrifuge Tailings Management project was completed during the quarter ....
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3Q15 CASH FLOW BEATS EXPECTATIONS
- Published:
30 Oct 2015 -
Author:
Michael P. Dunn - Pages:
Market Impact: Neutral. COS' 3Q15 results were highlighted by CFPS of $0.17/share (FCC -$0.01/share, survey average $0.01/share) that beat our and the street's expectations, largely due to a higher realized SCO price than we had anticipated, while operating expense was lower than we expected. We don't expect the stock to react to quarterly disclosures, as COS' share price is being supported by a hostile bid from Suncor. The Centrifuge Tailings Management project was completed during the quarter ....