ConocoPhillips' 14.8% Production Boost
ConocoPhillips exceeded earnings expectations in Q4 2024 but faced significant revenue challenges.
Oil and gas exploration and production company ConocoPhillips (NYSE:COP) reported fourth-quarter and full-year 2024 earnings on Thursday, Feb. 6, that topped analysts' consensus estimates. Adjusted earnings per share (EPS) of $1.98 came in ahead of expectations of $1.84. Revenue of $14.74 billion beat estimates but fell 3.7% from the same quarter last year. Net income in Q4 of $2.3 billion was down 23% year over year.
Overall, the quarter presented a mixed performance, illustrating both operational strengths and financial challenges largely related to the fluctuating price of oil and natural gas.
Source: ConocoPhillips. Note: Analyst consensus estimates for the quarter provided by FactSet. YOY = Year over year. MBOED = thousand barrels of oil equivalent per day.
