Murphy Oil (MUR) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Murphy Oil (MUR) reported revenue of $814.59 million, down 26% over the same period last year. EPS came in at $0.79, compared to $1.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $779.43 million, representing a surprise of +4.51%. The company delivered an EPS surprise of +6.76%, with the consensus EPS estimate being $0.74.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Murphy Oil performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Crude Oil and condensate Produced - barrels per day: 105.12 KBBL/D versus 97.84 KBBL/D estimated by six analysts on average.
Net NGLs Produced - barrels per day: 11.18 KBBL/D compared to the 11.14 KBBL/D average estimate based on six analysts.
Total Natural Gas Sold - barrels per day: 446.36 MMcf/D compared to the 425.63 MMcf/D average estimate based on six analysts.
Oil equivalent production per day: 184.25 KBOE/D compared to the 179.41 KBOE/D average estimate based on six analysts.
Total Natural Gas Sold - barrels per day - Onshore - US: 24.2 MMcf/D compared to the 26.85 MMcf/D average estimate based on four analysts.
Total Natural Gas Sold - barrels per day - Gulf of Mexico - US: 69.9 MMcf/D versus the four-analyst average estimate of 70.88 MMcf/D.
Net NGLs Produced - barrels per day - Gulf of Mexico - US: 6.29 KBBL/D compared to the 5.91 KBBL/D average estimate based on four analysts.
Geographic Revenues from External Customers- Canada: $118.30 million compared to the $101.96 million average estimate based on three analysts. The reported number represents a change of -42.7% year over year.
Geographic Revenues from External Customers- United States: $696.20 million versus the three-analyst average estimate of $620.41 million. The reported number represents a year-over-year change of -28.8%.
Net Natural Gas Revenue- Onshore- Canada: $59.20 million compared to the $53.48 million average estimate based on two analysts.
Net Crude Oil and Condensate Revenue- Offshore- Canada: $24.87 million compared to the $19.73 million average estimate based on two analysts.
Revenue from sales to customers- Revenue from production: $799.84 million versus the three-analyst average estimate of $711.26 million.
View all Key Company Metrics for Murphy Oil here>>>
Shares of Murphy Oil have returned +10.3% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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