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Cabot Oil & Gas Profit Rises, Meets Street - Quick Facts

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Cabot Oil & Gas Corp. (COG: Quote) Wedneday reported first-quarter net income of $18 million or $0.09 per share, up from $13 million or $0.06 per share last year, helped mainly by improved production.

Excluding items, adjusted earnings were $28.5 million or $0.14 per share, compared to $20.7 million or $0.10 per share a year ago.

Analysts polled by Thomson Reuters expected earnings of $0.14 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter rose to $272 million from $209 million a year ago. Analysts expected revenue of 273.94 million for the quarter.

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by RTT Staff Writer

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After moving mostly higher early in the session, stocks have continued to perform well over the course of the trading day on Thursday. The gains on the day have lifted both the Dow and the S&P 500 to new record intraday highs. Firms responding to a survey by the Federal Reserve Bank of Philadelphia indicated continued growth in regional manufacturing activity in September, although the bank said the index of activity in the sector fell from its relatively high reading in August. With new construction of multi-family homes showing a substantial pullback, the Commerce Department released a report on Thursday showing a much steeper than expected drop in U.S. housing starts in the month of August.
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