Canadian Natural's Earnings More Than Double

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Canadian Natural Resources Limited(CNQ Quote) reported on March 5, 2009 that its Q4 FY08 earnings more than doubled to Canadian dollar (Cdn$) 1.77 billion or Cdn$3.27 per share from Cdn$798.00 million or Cdn$1.48 per share, helped by a Cdn$2.41 billion net gain from risk management. Adjusted earnings from operations surged 27.7% to Cdn$697.00 million or Cdn$1.29 per share from Cdn$546.00 million or Cdn$1.02 per share. The most recent consensus estimate was $0.76 per share.

Revenue before royalties dropped 21.5% to Cdn$2.51 billion, hurt by lower production levels before royalties. Revenues net of royalties from North America, North Sea, Offshore West-Africa, and Midstream declined 17.6%, 28.7%, 26.8%, and 10.5% to Cdn$1.86 billion, Cdn$261.00 million, Cdn$172.00 million, and Cdn$17.00 million, respectively. ...