Yesterday, several energy companies released their third-quarter earnings results, providing insights into their performance and outlook for the future. Here’s a roundup of the key takeaways from OXY, EQPT, TDG, CWST, and JBI’s earnings reports:

OXY:
OXY Energy reported third-quarter earnings that exceeded expectations, with adjusted earnings per share (EPS) of $1.91 versus the Street’s estimate of $1.45. The company’s production also exceeded the midpoint of its guidance range, with a total of 1,427 thousand barrels of oil equivalent per day (MBOE/d). However, the company faced constraints on gas pipelines in the Gulf of Mexico (GOM) and maintenance activities, which partially offset its performance in the Permian and Rockies. OXY’s capex for the third quarter was in line with expectations, and the company sees fourth-quarter production ranging from 1,430 to 1,470 MBOE/d.

EQPT:
EQT Corporation reported third-quarter revenue of $1.47 billion, which was ahead of the Street’s estimate of $1.31 billion. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) also beat expectations, with a margin of 40.5% compared to 37.8% in the same period last year. EQT reaffirmed its updated guidance from October 19th, and its gross margins were below 31.5% compared to 32.7% in the same period last year.

TDG:
Tidewater Inc. reported fourth-quarter earnings per share (EPS) of $12.44, which was above the Street’s estimate of $12.21. The company’s revenue was $2.99 billion, which was above the Street’s estimate of $2.95 billion. TDG’s adjusted EBITDA beat expectations with a margin of 40.5% compared to 37.8% in the same period last year. For the full year, TDG guided EPS below consensus to $47.09-$48.72, and revenue was expected to be between $11.95-$12.15 billion. Its adjusted EBITDA was expected to be above consensus at $6.195-$6.345 billion.

CWST:
Cactus, Inc. reported third-quarter earnings with EBITDA of $134 million, which was slightly below the Street’s estimate of $136 million. The company’s sales were $559 million, which was slightly below the Street’s estimate of $563 million. Cactus guided full-year revenue to be at the high end of its range of $2.1-$2.11 billion, and its adjusted EBITDA was expected to be between $475-$481 million.

JBI:
Jazz Pharmaceuticals plc missed and lowered its full-year guidance. The company’s third-quarter earnings per share (EPS) were $0.08, which was below the Street’s estimate of $0.18. Jazz’s revenue was $213.1 million, which was below the Street’s estimate of $235 million. The company’s adjusted EBITDA missed expectations by $34 million, with a margin of 34.5% compared to 37.8% in the same period last year.

Overall, the energy sector saw a mix of results, with some companies exceeding expectations and others falling short. The outlook for the fourth quarter and full year remains uncertain, with some companies guiding for improved performance and others issuing cautionary notes. As always, it’s important to stay informed and up-to-date on the latest developments in the energy sector.