Cabot Oil & Gas Corp. Q1 adjusted earnings Beat Estimates

(RTTNews) - Cabot Oil & Gas Corp. (COG) announced earnings for first quarter that declined from last year.

The company's profit came in at $53.91 million, or $0.14 per share. This compares with $262.76 million, or $0.62 per share, in last year's first quarter.

Excluding items, Cabot Oil & Gas Corp. reported adjusted earnings of $54.04 million or $0.14 per share for the period.

Analysts had expected the company to earn $0.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 39.8% to $386.46 million from $641.68 million last year.

Cabot Oil & Gas Corp. earnings at a glance:

-Earnings (Q1): $54.04 Mln. vs. $307.75 Mln. last year. -EPS (Q1): $0.14 vs. $0.73 last year. -Analysts Estimate: $0.13 -Revenue (Q1): $386.46 Mln vs. $641.68 Mln last year.