Compared to Estimates, Marathon Oil (MRO) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Marathon Oil (MRO) reported revenue of $1.81 billion, down 19.3% over the same period last year. EPS came in at $0.77, compared to $1.24 in the year-ago quarter.
The reported revenue represents a surprise of +3.36% over the Zacks Consensus Estimate of $1.75 billion. With the consensus EPS estimate being $0.69, the EPS surprise was +11.59%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Marathon Oil performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Company - Net Sales Volumes: 422 millions of barrels of oil equivalent per day versus the six-analyst average estimate of 408.09 millions of barrels of oil equivalent per day.
Average Price Realizations - United States - Crude Oil and Condensate: $80.90 compared to the $79.19 average estimate based on five analysts.
Average Price Realizations - United States - Natural gas liquids: $21.37 versus $21.97 estimated by five analysts on average.
Average Price Realizations - United States - Natural gas: $2.28 versus $2.37 estimated by five analysts on average.
Net Sales Volume per day - United States - Crude Oil and Condensate: 189 millions of barrels of oil versus 186.94 millions of barrels of oil estimated by four analysts on average.
Net Sales Volume per day - International - Natural gas liquids: 6 millions of barrels of oil compared to the 5.56 millions of barrels of oil average estimate based on four analysts.
Net Sales Volume per day - International - Natural gas: 217 millions of cubic feet versus 210.33 millions of cubic feet estimated by four analysts on average.
Net Sales Volume per day - United States - Natural gas liquids: 90 millions of barrels of oil compared to the 85.46 millions of barrels of oil average estimate based on four analysts.
Net Sales Volume per day - United States - Natural gas: 539 millions of cubic feet compared to the 512.28 millions of cubic feet average estimate based on four analysts.
Net Sales Volume per day - International - Crude oil and condensate: 11 millions of barrels of oil versus 8.78 millions of barrels of oil estimated by four analysts on average.
Revenues from contracts with customers: $1.77 billion compared to the $1.72 billion average estimate based on four analysts. The reported number represents a change of -11.8% year over year.
Income from equity method investments: $38 million versus the three-analyst average estimate of $51.08 million. The reported number represents a year-over-year change of -80%.
View all Key Company Metrics for Marathon Oil here>>>
Shares of Marathon Oil have returned +6.4% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Marathon Oil Corporation (MRO) : Free Stock Analysis Report
