trending Market Intelligence /marketintelligence/en/news-insights/trending/lLGQklTjK1RI9BUPOeeSUA2 content esgSubNav
In This List

Continental Resources Q4 loss narrows YOY

Blog

Europe: 5 key OTT trends to watch in 2022

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud


Continental Resources Q4 loss narrows YOY

Continental Resources Inc. said its normalized net income for the fourth quarter came to a loss of 19 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 10 cents per share.

The per-share loss narrowed 49.1% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $75.7 million, compared with a loss of $139.2 million in the prior-year period.

The normalized profit margin increased to negative 12.7% from negative 24.9% in the year-earlier period.

Total revenue increased 6.8% year over year to $597.1 million from $558.9 million, and total operating expenses fell 8.4% year over year to $643.1 million from $702.0 million.

Reported net income totaled $25.9 million, or 7 cents per share, compared with a loss of $140.4 million, or a loss of 38 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of $1.54 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 92 cents.

EPS was a loss of 94 cents in the prior year.

Normalized net income was a loss of $569.3 million, compared with a loss of $348.9 million in the prior year.

Full-year total revenue declined year over year to $2.05 billion from $2.59 billion, and total operating expenses declined year over year to $2.64 billion from $2.84 billion.

The company said reported net income came to a loss of $400.0 million, or a loss of $1.08 per share, in the full year, compared with a loss of $354.8 million, or a loss of 96 cents per share, the prior year.