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In its upcoming report, ConocoPhillips (COP) is predicted by Wall Street analysts to post quarterly earnings of $1.99 per share, reflecting a decline of 2% compared to the same period last year. Revenues are forecasted to be $16.37 billion, representing a year-over-year increase of 13.1%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 19.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some ConocoPhillips metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Revenues- Sales and other operating revenues' should arrive at $15.85 billion. The estimate indicates a year-over-year change of +14.4%.
Analysts expect 'Revenues- Equity in earnings of affiliates' to come in at $325.20 million. The estimate indicates a change of -22.8% from the prior-year quarter.
Analysts predict that the 'Sales and Other Operating Revenue- Natural gas liquids' will reach $784.31 million. The estimate indicates a change of +15.3% from the prior-year quarter.
It is projected by analysts that the 'Sales and Other Operating Revenue- Natural gas' will reach $1.74 billion. The estimate indicates a year-over-year change of -7.6%.
The collective assessment of analysts points to an estimated 'Sales and Other Operating Revenues- Canada' of $993.19 million. The estimate points to a change of +6.1% from the year-ago quarter.
According to the collective judgment of analysts, 'Sales and Other Operating Revenues- Europe, Middle East and North Africa' should come in at $1.61 billion. The estimate suggests a change of +10.8% year over year.
The average prediction of analysts places 'Sales and Other Operating Revenues- Lower 48' at $10.63 billion. The estimate suggests a change of +14.2% year over year.