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MEG Energy (MEGEF)
OTHER OTC:MEGEF
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.43Last Year’s EPS
0.26Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 01, 2018
|% Change Since: -14.39%
|Next Earnings Date:Aug 02, 2018
Earnings Call Sentiment|Positive
MEG Energy presented strong financial and operational results, achieving key milestones such as reaching their net debt target and declaring an inaugural dividend. However, production was affected by external factors like cold weather and wildfires, and there were slight increases in transportation costs.Company Guidance
During the MEG Energy Q3 2024 earnings call, several key metrics and guidance points were highlighted. The company reached its net debt target and announced its first quarterly dividend, aligning with its commitment to return 100% of free cash flow to shareholders. Production averaged approximately 103,300 barrels per day with a steam-to-oil ratio of 2.36. Operating expenses net of power revenue were $5.82 per barrel, with non-energy operating costs at $5.18 per barrel. Capital investments totaled $141 million, maintaining the guidance but noting production trends towards the low end due to earlier weather impacts. MEG benefited from the TMX operations, reducing WCS volatility, with differentials stabilizing near USD 12 per barrel. The quarter saw $362 million in adjusted funds flow, $221 million in free cash flow, and $108 million returned to shareholders through share repurchases. MEG's enhanced capital return framework includes a planned dividend of $0.10 per share, and the company continues to advance its carbon capture project.Net Debt Target Achieved and Inaugural Dividend Announced
MEG Energy reached its net debt target and announced its inaugural quarterly dividend, reflecting a strong focus on delivering enhanced shareholder returns.
Operational Performance and Production Metrics
Third quarter production averaged approximately 103,300 barrels per day with a top-tier steam-to-oil ratio of 2.36, despite challenges such as a one-month delay due to wildfires.
Financial Strength and Shareholder Returns
Generated $362 million of adjusted funds flow and $221 million of free cash flow, facilitating the repayment of 2027 notes and repurchase of 4.1 million shares, returning $108 million to shareholders.
Market Diversification through TMX Operations
First full period of TMX operations resulted in reduced WCS volatility and improved market diversification, with differentials settling near USD 12 per barrel.
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MEGEF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MEGEF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $19.04 | $19.37 | +1.73% |
| Jul 25, 2024 | $19.74 | $20.01 | +1.37% |
| May 06, 2024 | $22.92 | $22.81 | -0.48% |
| Feb 29, 2024 | $21.18 | $21.45 | +1.27% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does MEG Energy (MEGEF) report earnings?
MEG Energy (MEGEF) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is MEG Energy (MEGEF) earnings time?
MEG Energy (MEGEF) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MEGEF EPS forecast?
MEGEF EPS forecast for the fiscal quarter 2024 (Q4) is 0.43.
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