Encana Reports Q3 EPS Of $0.25 - Quick Facts

(RTTNews) - Encana Corp. (ECA.TO, ECA) reported net earnings of $188 million or $0.25 per share for its third-quarter. Operating earnings decreased to $150 million or $0.20 per share, from $263 million or $0.36 per share, last year.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.16 for the quarter. Analysts' estimates typically exclude special items.

Oil and natural gas liquids production volumes in the quarter averaged approximately 58,200 barrels per day, a 92 percent year-over-year increase compared to the third quarter of 2012. The company further said it remains on track to achieve total liquids production of 50,000 bbls/d to 60,000 bbls/d for the year, and expects to exit the year with liquids production in the 70,000 bbls/d to 75,000 bbls/d range.

Earlier in the year, Encana set a target to achieve cost savings and capital efficiency gains of $100 million to $150 million over 18 months relative to budgeted plans; by year-end, the company expects to realize about $110 million of that total.

The company plans to announce its long-term strategic plan and fourth quarter dividend before the end of the year.