Canadian Natural Resources reports Q1 profit up, record quarterly average production

Published: 2025-05-08 10:03:06 ET CNQ.TO

Published on 05/08/2025 at 10:03

CALGARY - Canadian Natural Resources Ltd. earned a first-quarter profit of $2.46 billion, up from $987 million a year ago as it reported record quarterly average production.

The company says the profit amounted to $1.17 per diluted share for the quarter ended March 31 compared with 46 cents per diluted share a year ago.

On an adjusted basis, Canadian Natural says it earned $1.16 per diluted share from operations in its latest quarter, up from an adjusted profit of 68 cents per diluted share in the same quarter last year.

Product sales totalled $12.71 billion, up from $9.42 billion a year ago, while revenue amounted to $10.94 billion, up from $8.24 billion a year earlier.

Production in the quarter averaged 1,582,348 barrels of oil equivalent per day, up from 1,333,502 boe/d in the same quarter last year.

The company says it produced 2.45 billion cubic feet per day of natural gas, up from 2.15 billion cubic feet per day a year earlier, while crude oil and natural gas liquids production amounted to 1,173,804 barrels per day, up from 975,668 barrels per day a year ago.

This report by The Canadian Press was first published May 8, 2025.

Companies in this story: (TSX:CNQ)