ARC Resources Ltd reports results for the quarter ended March 31 - Earnings Summary

• ARC Resources Ltd ARX.TO reported quarterly adjusted earnings of 69 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 31 cents. The mean expectation of six analysts for the quarter was for earnings of 73 cents per share. Wall Street expected results to range from 67 cents to 85 cents per share.

• Revenue rose 24.7% to C$1.63 billion from a year ago; analysts expected C$1.44 billion.

• ARC Resources Ltd's reported EPS for the quarter was 69 cents​.

• The company reported quarterly net income of C$404.7 million.

• ARC Resources Ltd shares had fallen by 11.8% this quarter and lost 2.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.5% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil & gas exploration and production peer group is also "buy"

• Wall Street's median 12-month price target for ARC Resources Ltd is C$32.50

This summary was machine generated from LSEG data May 2 at 04:17 a.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)