Marathon Oil Misses On Q3 EPS
Marathon Oil Corporation (NYSE: MRO) reported third quarter 2014 financial results Monday.
Total revenues were $2.971 billion, above the average estimate of $2.93 billion and below the $3.127 billion reported for the same period in 2013.
Adjusted income from continuing operations came in at $388 million, or $0.57 per diluted share, less than the estimate of $0.59 and below the $0.87 reported in the year-ago period.
Adjusted net income was $515 million, or $0.76 per diluted share, both excluding the impact of certain items not typically represented in analysts' earnings estimates, and that would otherwise affect comparability of results.
Reported income from continuing operations was $304 million, or $0.45 per diluted share, and reported net income was $431 million, or $0.64 per diluted share.
"Marathon Oil's U.S. resource plays delivered strong operational performance in the third quarter, and we remain on track to achieve greater than 30 percent production growth year-over-year in the resource plays," said Lee M. Tillman, Marathon Oil president and CEO. "Both our Eagle Ford and Bakken net production delivered double-digit growth compared to the previous quarter. However, lower price realizations offset the impact of higher production volumes in our financial results.”
Marathon Oil traded at $35.16 in the after-hours session, up 1.71 percent.
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