ConocoPhillips First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

ConocoPhillips (NYSE:COP) First Quarter 2024 Results

Key Financial Results

• Revenue: US$14.5b (down 5.4% from 1Q 2023).
• Net income: US$2.55b (down 12% from 1Q 2023).
• Profit margin: 18% (down from 19% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$2.17 (down from US$2.39 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

ConocoPhillips EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 4.8%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Oil and Gas industry in the US.

Performance of the American Oil and Gas industry.

The company's shares are down 6.0% from a week ago.

Risk Analysis

You still need to take note of risks, for example - ConocoPhillips has 2 warning signs we think you should be aware of.

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