COP Earnings Prediction
The chart below shows how COP performed 10 days before and after its earnings report, based on data from the past quarters. Typically, COP sees a +1.22% change in stock price 10 days leading up to the earnings, and a +1.60% change 10 days following the report. On the earnings day itself, the stock moves by +0.77%. This data can give you a slight idea of what to expect for the next quarter's release.
COP Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
13.04B
-8.48%
-4.25%
Gross Margin
27.93%
-13.80%
-10.80%
Operating Margin
23.29%
-15.80%
-11.44%
Net Margin
15.79%
-19.60%
-7.66%
EPS
1.76
-24.14%
-11.11%
No Data Available
COP Earnings Analysis
ConocoPhillips Corporation (COP.N) Earnings Conference Call
Positive
Production Increase Overview: 1. Strong Production Growth: ConocoPhillips produced 1,917,000 barrels of oil equivalent per day in Q3 2024, reflecting a 3% year-over-year growth despite significant turnaround impacts.
Record Lower 48 Production: 2. Record Lower 48 Production: The Lower 48 segment achieved record production of 1,147,000 barrels of oil equivalent per day, representing a 6% underlying growth year-over-year.
Strong Cash Flow Performance: 3. Robust Cash Flow Generation: The company generated over $4.7 billion in cash flow from operations in Q3 2024, including more than $400 million from APLNG distributions.
Shareholder Return Strategy: 4. Significant Shareholder Returns: ConocoPhillips is on track to distribute at least $9 billion to shareholders in 2024, with $2.1 billion returned in Q3 alone through buybacks and dividends.
Dividend Increase Commitment: 5. Increased Dividend Growth: The ordinary dividend was increased by 34%, demonstrating the company's commitment to top quartile growth relative to the S&P 500.
Negative
Gas Realization Decline: 1. Declining Gas Realizations: Lower 48 gas realizations dropped from 17% of Henry Hub in Q2 to 8% in Q3, primarily due to Permian pipeline constraints, indicating significant revenue loss.
Rising Capital Expenditures: 2. Increased Capital Expenditures: Capital expenditures for Q3 were $2.9 billion, with expectations for a total of less than $13 billion in 2025, reflecting a need for higher spending amidst operational challenges.
Production Turnaround Effects: 3. Production Turnaround Impact: The company experienced an estimated impact of 85,000 barrels per day from turnarounds during Q3, including a significant 55,000 barrels per day from Surmont's five-year turnaround, affecting overall production levels.
Cash Flow Challenges: 4. Negative Cash Flow from Operations: Despite generating over $4.7 billion in cash flow from operations in Q3, the company faced challenges with working capital, which was expected to draw down in Q4 due to the pending Marathon acquisition.
Asset Dispositions Strategy: 5. Asset Dispositions Target: ConocoPhillips announced a target of $2 billion in non-core asset dispositions over the next several years, indicating potential divestitures that could impact future revenue streams.
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COP Earning Call Sentiment
ConocoPhillips (COP) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
COP.N
0.84%Positive
The earnings call highlights strong financial performance with record cash flow, robust shareholder returns, and a solid liquidity position. The Q&A reveals positive synergies and dividend growth, although some ambiguity exists in capital allocation and supply-demand outlook. Overall, the optimistic guidance and strong financial metrics suggest a positive stock price movement.