Canadian Natural Resources reports $1.35B first-quarter profit

Pump Jacks extract crude oil from oil wells

CALGARY — Canadian Natural Resources Ltd. reported a first-quarter profit of $1.35 billion compared with $2.46 billion in the same quarter last year.

The company says the profit amounted to 64 cents per diluted share for the quarter ended March 31 compared with $1.17 per diluted share a year earlier.

On an adjusted basis, Canadian Natural says it earned $1.17 per diluted share in its latest quarter, up from an adjusted profit of $1.16 per diluted share in the first quarter of 2025.

Product sales for the quarter totalled $12.40 billion, down from $12.71 billion a year earlier.

Production averaged 1,643,160 barrels of oil equivalent per day for the quarter, up from 1,582,348 boepd a year ago.

Analysts on average had expected Canadian Natural to report an adjusted profit of $1.01 per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published May 7, 2026.