Canadian Natural Earnings Set to Reveal Impact of Oil Price Volatility

Canadian Natural is set to report its second-quarter earnings on Thursday, providing insight into how the company has navigated volatile commodity prices. Analysts expect the Calgary-based producer to post earnings of 2.0 Canadian dollars per share on revenue of 12.86 billion Canadian dollars for the quarter ended June 30.

This would represent a significant increase from the prior quarter's 1.17 Canadian dollars per share in earnings and 10.81 billion Canadian dollars in revenue, with year-over-year revenue forecast to surge 47.82% due to rising production volumes.

The company has been able to maintain its industry-leading operating costs at oil sands operations while scaling output, a key factor in determining the success of its diversified asset base. The planned 35-day turnaround at its Horizon facility in September could also impact shares.