Noble Energy Inc. said its fourth-quarter normalized net income amounted to a loss of $1.22 per share, compared with the S&P Capital IQ consensus estimate of a loss of 9 cents per share.
The per-share loss grew year over year from $1.20.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $525.8 million, compared with a loss of $513.8 million in the year-earlier period.
The normalized profit margin increased to negative 53.8% from negative 62.0% in the year-earlier period.
Total revenue increased 18.0% year over year to $978.0 million from $829.0 million, and total operating expenses grew 8.8% year over year to $1.74 billion from $1.60 billion.
Reported net income came to a loss of $253.7 million, or a loss of 59 cents per share, compared with a loss of $2.03 billion, or a loss of $4.73 per share, in the prior-year period.
For the year, the company's normalized net income totaled a loss of $3.03 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 92 cents.
EPS was a loss of $2.03 in the prior year.
Normalized net income was a loss of $1.30 billion, compared with a loss of $814.4 million in the prior year.
Full-year total revenue increased year over year to $3.39 billion from $3.09 billion, and total operating expenses rose on an annual basis to $5.23 billion from $4.23 billion.
The company said reported net income totaled a loss of $997.6 million, or a loss of $2.32 per share, in the full year, compared with a loss of $2.44 billion, or a loss of $6.07 per share, the prior year.
