ConocoPhillips Q2 adj. EPS $1.09; FactSet consensus $1.08

ConocoPhillips Q2 adj. EPS $1.09; FactSet consensus $1.08

ConcoPhillips tops EPS estimates

ConcoPhillips said Thursday it had net income of $1.6 billion, or $1.39 a share, in the second quarter, after a loss of $3.4 billion, or $2.78 a share, in the year-earlier period. Adjusted per-share earnings came to $1.09, ahead of the FactSet consensus of $1.08. The company did not provide a revenue number in its earnings release, but said production excluding Libya of 1,211 MBOED came in at the high end of its guidance. “We’re benefitting from higher oil prices, but also driving underlying cash flow expansion,” Chief Executive Ryan Lance said in a statement. The oil giant is now expecting full-year product of 1,225 to 1.255 MBOED. Shares were slightly lower premarket, but have gained 30.3% in 2018, while the S&P 500 has gained 6.5%.

Read on Market Watch

Share:

Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on The Latest News on Wall Street, Stocks, #Politics and Business news. Hedge Accordingly produces both original, and aggregated #Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About HEDGEaccordingly.com