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  5. WCP: Hi 5i, your impression of Whitecap Resources earnings please. [Whitecap Resources Inc.]
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Q: Hi 5i, your impression of Whitecap Resources earnings please.

Thanks
Asked by hank on July 26, 2024
5i Research Answer:

For Q2, WCP beat EPS estimates of 36c coming in at 41c. Revenue recorded a large beat on estimates of $784.72M coming in at $980.4M displaying growth of 21.50% year-over-year. 2024 production and capital spending guidance was maintained. WCP is trying to reduce debt and forecasts that net debt will be below $1B by year end. Funds flows for the quarter were $426M ($0.71 per share) 4% per share year-over-year. The company has highlighted that its performance thus far has been exceptional and hopes to continue the momentum into 2H. We think this was a strong quarter and like the focus on debt reduction while production continues to be strong. 

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