MRO Earnings

MRO reported its FY2024Q2 earnings on 2024-08-07, showcasing a revenue of 1.71B against an estimate of 1.72B, resulting in a -0.73% surprise. The EPS was 0.63, surpassing the expected 0.67 by -5.97% . The stock experienced a 1.53% price change on the earnings day and a 2.94% change over the next five days, reflecting market reactions to the results.

Following MRO's FY2024Q2 earnings announcement on 2024-08-07, the stock price moved by 1.53% on the day of the release. Over the subsequent five days, it saw a 2.94% change. Historically, MRO's stock price tends to shift by an average of +1.61% in the 10 days leading up to earnings and +1.07% in the 10 days following, providing insight into potential market.

For 2024/Q2, analysts estimate MRO’s annual revenue to reach 1.72B, while the EPS is projected at 0.70. These estimates reflect recent revisions, with revenue estimates revised Revenue No Change by % and EPS estimates No Change by % over the past three months, indicating analyst expectation in the company’s performance.

The correlation between MRO's stock price and earnings forecast revisions shows that positive revisions in revenue or EPS often strengthen the stock’s fundamentals. Over the past three months, revenue estimates for were No Change by %, while EPS estimates moved No Change by % . This trend suggests that price dips could present buying opportunities for investors.

Based on historical trends, MRO's stock price typically moves by +1.61% in the 10 days before its earnings and +1.07% in the 10 days after. For the upcoming 2024/Q2 earnings, analysts expect an EPS of 0.70 and revenue of 1.72B.

The earnings call indicates strong financial performance with significant shareholder returns, debt reduction, and increased EG EBITDAX. The Q&A reveals positive sentiment from analysts about productive refracs, capital allocation in proven areas, and strategic LNG marketing agreements. Despite some management evasiveness on specifics, the overall tone is optimistic, with strong guidance and capital efficiency improvements. These factors, coupled with the company's commitment to shareholder returns and strategic asset optimization, suggest a positive stock price movement in the short term.