Calgary, Alberta–(Newsfile Corp. – May 9, 2024) – Cardinal Energy Ltd. (TSX: CJ) (“Cardinal” or the “Company”) is pleased to announce its operating and financial results for the first quarter ended March 31, 2024. FINANCIAL AND OPERATING HIGHLIGHTS FROM THE FIRST QUARTER OF 2024 Production for the first quarter of 2024 was consistent with the
1Q24 Sales of $337 million, down 16% versus prior year 1Q24 Earnings Per Share of ($0.65); Adjusted Earnings Per Share of ($0.56) 1Q24 results include approximately $27 million unfavorable pre-tax income impact from previously announced process-based operational disruption Continued commitment to corporate social responsibility and sustainability performance with ISCC PLUS certification, and EcoVadis and CDP
Delivers $0.36 of diluted earnings per share (EPS), a slight year-over-year decrease of $0.01 Invests $69 million in infrastructure Secures 10.01% Water Cost of Capital Mechanism (WCCM)-adjusted return on equity in California as of January 1, 2024 Reaffirms 2024 guidance range of $2.68 to $2.78 diluted EPS Declares $0.40 cash dividend per share of common