Second quarter CFPS of $0.66 was materially higher than FirstEnergy’s forecast of $0.51 and consensus estimates of $0.46. Even adjusting the quarter for positive one-time items, normalized CFPS of $0.56 was still an impressive beat. 2Q16 production volumes topped our forecast by 2% and was led by liquids contribution of 59% (FirstEnergy: 57%), which, when coupled with persistently stronger than expected realized natural gas prices, led to the cash flow outperformance. 2Q16 production vo
05 Aug 2016
2Q16 Results Outpace Expectations
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2Q16 Results Outpace Expectations
- Published:
05 Aug 2016 -
Author:
Cody R. Kwong -
Pages:
8
Second quarter CFPS of $0.66 was materially higher than FirstEnergy’s forecast of $0.51 and consensus estimates of $0.46. Even adjusting the quarter for positive one-time items, normalized CFPS of $0.56 was still an impressive beat. 2Q16 production volumes topped our forecast by 2% and was led by liquids contribution of 59% (FirstEnergy: 57%), which, when coupled with persistently stronger than expected realized natural gas prices, led to the cash flow outperformance. 2Q16 production vo