Oil and natural gas producer Coterra Energy (CTRA) delivered mixed results after the closing bell Monday, with second-quarter sales missing expectations and profit outpacing estimates.
However, natural gas liquid prices missed estimates.
While management did raise their outlook for total production along with their production targets for oil and natural gas, they left capital expenditure expectations alone.
Given the pressure seen on commodity prices, particularly in natural gas, management was forced to lower their outlook for operating cash flow and free cash flow.
Guidance Forward guidance for both the third quarter and full year 2023 was mixed — and unfortunately, the full-year misses were on management's cash flow forecasts.
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We'll, Jim Cramer's, Jim Cramer, Jim, Pavlo Gonchar
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Coterra Energy, Revenue, Refinitiv, Natural Resources, Management, West Texas, CNBC, Energy Inc, Getty