Encana Slips To Loss In Q3 On Impairment Charge - Quick Facts

(RTTNews) - Canadian energy producer Encana Corp. (ECA.TO, ECA) posted third-quarter net loss attributable to common shareholders of $1.24 billion or $1.47 per share, compared with earnings of $2.81 billion in the prior-year quarter.

The net loss for the quarter was primarily due to a $1.1 billion non-cash, after-tax ceiling test impairment.

Operating loss for the quarter was $24 million, or $0.03 per share, compared to operating income of $281 million, or $0.38 per share, last year. Analysts polled by Thomson Reuters expected the company to report loss of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

For the quarter, Encana reported cash flow of $371 million, or $0.44 per share, compared to $807 million or $1.09 per share, a year ago.

On November 11, 2015, Encana's Board of Directors declared a dividend of $0.07 per share payable on December 31, 2015, to common shareholders of record as of December 15, 2015.

Encana said it remains on track to deliver its 2015 cash flow guidance of between $1.4 billion and $1.6 billion.