Quarterly ResultAug 6, 2026, 05:00 PM
Canadian Natural Q2 Adjusted Net Earnings $4.6B; Raises 2026 Guidance
AI Summary
Canadian Natural Resources Limited reported a very strong second quarter in 2026, achieving record adjusted net earnings of $4.6 billion ($2.20 per share) and record adjusted funds flow of $6.9 billion ($3.30 per share). The company also reached a record total quarterly production of 1,677,000 BOE/d, an 18% increase year-over-year, and increased its 2026 annual production guidance for the second time. Significant shareholder returns totaled $4.0 billion in the quarter, comprising $1.3 billion in dividends and $1.1 billion in share repurchases, alongside a $1.6 billion reduction in net debt.
Key Highlights
- Record Q2 adjusted net earnings of $4.6 billion ($2.20 per share).
- Record Q2 adjusted funds flow of $6.9 billion ($3.30 per share).
- Record total quarterly production of 1,677,000 BOE/d, an 18% increase from Q2/25.
- Increased 2026 annual production guidance to 1,637-1,682 MBOE/d.
- Returned $4.0 billion to shareholders in Q2/26, including $1.3 billion in dividends.
- Net debt reduced by $1.6 billion to $14.5 billion at June 30, 2026.
- Oil Sands Mining and Upgrading SCO production reached a record 625,000 bbl/d.
- Acquired additional assets in the Peace River area for approximately $761 million.
Price Impact
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