RE:Beat? They lost $92 million on commodities contracts compared to a 2023 Q1gain of $41 million. Most of it is mark-to-market so changes in the value of current futures contracts. Basically, hedging is biting them in the butt.
There is another $40 million loss on other commodity contracts, I'm not clear on exactly what yet, and a $75 million loss on asset dispositions.
Disappointing but the question is are these one-offs or part of a pattern. The answer to that will have a huge impact on the share price movement tomorrow. I expect it to be a topic of conversation on the call. I would have expected more clarity in the financial statements or at least some colour in the MD&A.
A lot of good news in the results on production and operating costs, but also a huge kick to the nards.
JamesT wrote: Am i missing something? EPS is 0.10 vs estimate of 0.34.