Murphy Oil (MUR) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Murphy Oil (MUR) reported revenue of $959.65 million, down 26.4% over the same period last year. EPS came in at $1.59, compared to $1.84 in the year-ago quarter.
The reported revenue represents a surprise of +6.71% over the Zacks Consensus Estimate of $899.35 million. With the consensus EPS estimate being $1.34, the EPS surprise was +18.66%.
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: 108.77 thousands of barrels of oil compared to the 103.59 thousands of barrels of oil average estimate based on seven analysts.
Net NGLs Produced - barrels per day: 11.89 thousands of barrels of oil compared to the 12.14 thousands of barrels of oil average estimate based on seven analysts.
Total Natural Gas Sold - barrels per day: 525.28 millions of cubic feet compared to the 492.28 millions of cubic feet average estimate based on seven analysts.
Net NGLs Produced - barrels per day - Gulf of Mexico - US: 5.88 thousands of barrels of oil versus the four-analyst average estimate of 6.62 thousands of barrels of oil.
Geographic Revenues from External Customers- Canada: $129.30 million versus $121.67 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -38.3% change.
Geographic Revenues from External Customers- United States: $823.70 million compared to the $756.59 million average estimate based on three analysts. The reported number represents a change of -15.4% year over year.
Net Natural Gas Revenue- Onshore- Canada: $75.58 million compared to the $77.68 million average estimate based on two analysts.
Total natural gas revenue: $100 million compared to the $100.21 million average estimate based on three analysts.
Total natural gas liquids revenue: $23.40 million compared to the $30.57 million average estimate based on two analysts.
Total revenue from sales to customers: $953.77 million versus $885.03 million estimated by two analysts on average.
Revenue from sales to customers- Revenue from production: $945.89 million versus the two-analyst average estimate of $878.52 million.
Total crude oil and condensate revenue: $822.49 million compared to the $762.33 million average estimate based on two analysts.
View all Key Company Metrics for Murphy Oil here>>>
Shares of Murphy Oil have returned +5.3% over the past month versus the Zacks S&P 500 composite's -1.1% 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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Murphy Oil Corporation (MUR) : Free Stock Analysis Report
