Earnings Preview: Denbury Resources

Nov. 3.08 | About: Denbury Resources (DNR)

Denbury Resources (NYSE:DNR) is expected to report Q3 earnings before market open  Tuesday, November 4, with a conference call scheduled for 11:00 am ET.


Analysts are looking for EPS of 51c on revenue of $387.57M. The consensus range is 43c to 58c for EPS, and $368.62M to $411.0M for revenue, according to First Call. Last quarter, Denbury underperformed on EPS, posting Q2 EPS of 47c vs. a consensus of 55c, but outperformed on revenue, posting Q2 revenue of $418M vs. a consensus of $373.92M. During the Q2 earnings conference call, the company said, "Looking forward, if prices continue to stay high, we would expect our operating costs to remain in this $18 range most of the year. That is higher than our prior guidance, but largely due to the anticipated higher oil prices." With oil prices now falling, investors will be looking for an update on the company's operating costs.