Quarterly ResultMay 7, 2026, 04:45 PM
Canadian Natural Q1 Adjusted Net Earnings $2.4B; Production +4% YoY
AI Summary
Canadian Natural Resources Limited reported strong first-quarter 2026 results, with adjusted net earnings of $2.4 billion ($1.17 per share) and adjusted funds flow of $4.4 billion ($2.10 per share). The company returned approximately $1.5 billion to shareholders through dividends and share repurchases. Total quarterly production increased 4% year-over-year to 1,643,000 BOE/d, driven by record North American E&P conventional production. The company also highlighted its 26th consecutive year of dividend increases and accelerated debt reduction.
Key Highlights
- Adjusted net earnings from operations were $2.4 billion ($1.17 per share).
- Adjusted funds flow reached $4.4 billion ($2.10 per share).
- Total shareholder returns were $1.5 billion, including $1.2 billion in dividends and $0.3 billion in buybacks.
- Total quarterly production increased 4% YoY to 1,643,000 BOE/d.
- Record North American E&P conventional production hit 773,000 BOE/d.
- Oil Sands Mining and Upgrading operating costs were $23.73/bbl (US$17.30/bbl).
- Quarterly dividend increased to $0.625 per common share, marking 26 consecutive years of growth.
- Net debt reduced to below $16 billion, accelerating share repurchases.