Canadian Natural Sees Tripled First Quarter Profits

The Financial Post reported that Independant oil and gas producer Canadian Natural Resources (TSX:CNQ) has tripled its profits for the first quarter. The gain is due largely to higher prices for oil and natural gas, according to the Post.

As quoted in the publication:

The company said net income was $622-million, or 57 cents per share, up from $213-million, or 19  cents, in the first quarter of 2013. Adjusted profit, which excludes most one-time items, more than doubled to $921-million, or 85  cents per share, from $401-million, or 37 cents. Analysts, on average, expected the company to post an operating profit of 79 cents per share, according to Thomson Reuters I/B/E/S.

Click here to read the full Financial Post article.