ConocoPhillips Third Quarter 2024 Earnings: EPS Beats Expectations

ConocoPhillips (NYSE:COP) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$13.6b (down 7.1% from 3Q 2023).
• Net income: US$2.06b (down 26% from 3Q 2023).
• Profit margin: 15% (down from 19% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$1.77 (down from US$2.33 in 3Q 2023).

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

ConocoPhillips EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.0%.

Looking ahead, revenue is expected to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.8%.

Performance of the American Oil and Gas industry.

The company's shares are up 4.8% from a week ago.

Risk Analysis

You still need to take note of risks, for example - ConocoPhillips has 3 warning signs (and 1 which is potentially serious) we think you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.