Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Canada's Tourmaline Oil Q3 earnings jump

By Reuters News


Overview

  • Canada natural gas producer's Q3 net earnings rose 237% yr/yr to C$641.5 mln

  • Q3 production fell 6% yr/yr due to deferrals and storage injections for higher future prices

  • Company raised quarterly base dividend by 5% and repurchased 1.3 mln shares in Q4


Outlook

  • Tourmaline expects Q4 2026 average production of 635,000–645,000 boepd

  • Company anticipates 2026 exit production of 670,000 boepd or greater, including storage withdrawals

  • Tourmaline forecasts 2027 free cash flow of C$1.8 bln at current strip pricing, up 71% from July estimate


Result Drivers

  • STORAGE INJECTIONS AND DEFERRALS - Co said Q3 production was slightly below guidance due to deferrals and storage injections to capture higher expected prices in Q4 and Q1 2027

  • HIGHER REALIZED NATURAL GAS PRICES - Co benefited from average realized natural gas prices significantly above the AECO 5A benchmark due to its diversified marketing and hedging

  • LOWER OPERATING COSTS - Operating costs fell 7% yr/yr, contributing to improved margins


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

C$1.64

Q3 Net Income

C$641.50 mln

Q3 Cash Flow Per Share

C$2.02

Q3 Net Debt

C$1.54 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

  • Wall Street's median 12-month price target for Tourmaline Oil Corp is C$70.00, about 5.6% above its November 3 closing price of C$66.28

  • The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 12 three months ago


Reuters Recommended Reads

  • Nov 3 - Canada's Suncor Q3 adjusted operating earnings jump on higher upstream prices

  • Nov 4 - Canada's Vermilion Energy posts Q3 net loss, plans 4% dividend hike

  • Nov 3 - Ovintiv Q3 profit rises on higher energy prices, lower costs


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
 

Cryptocurrency-related content is intended solely as news and market commentary. Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd.