2023-05-03 16:34:51 ET
- Marathon Oil press release ( NYSE: MRO ): Q1 Non-GAAP EPS of $0.67 beats by $0.09 .
- Revenue of $1.68B (-4.0% Y/Y) beats by $50M .
- Net operating cash flow was $865 million or $942 million before changes in working capital (adjusted CFO).
- Free cash flow was $333 million or $309 million before changes in working capital and including Equatorial Guinea (E.G.) distributions and other financing (adjusted FCF).
- Delivered first quarter oil and oil-equivalent production of 186,000 net barrels of oil per day (bopd) and 396,000 net barrels of oil equivalent per day (boed).
- 2023 Guidance : Marathon Oil's originally provided 2023 production guidance remains unchanged, as does the Company's 2023 capital spending guidance range of $1.9 to $2.0 billion, with approximately 60% of 2023 capital spending weighted to the first half of the year.
For further details see:
Marathon Oil beats Q1 top and bottom line estimates; reaffirms FY23 outlook