XLE - ConocoPhillips Falls Short: Q1 Revenue & Earnings Miss Estimates | Benzinga
ConocoPhillips (NYSE:COP) shares are trading lower after it reported first-quarter FY24 results.
Revenue of $14.476 billion missed the consensus of $15.047 billion, while adjusted EPS of $2.03 missed the consensus of $2.04.
Total production was 1,902 thousand barrels of oil equivalent per day (MBOED), an increase of 110 MBOED from the same period a year ago.
Lower 48 production averaged 1,046 MBOED, which includes 736 MBOED from the Permian, 197 MBOED from the Eagle Ford, and 96 MBOED from the Bakken assets.
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