Marathon Oil Earnings: Here’s Why Investors are Selling Stock Now
Marathon Oil Corporation (NYSE:MRO) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.2%.
Marathon Oil Corporation Earnings Cheat Sheet
Results: Net income decreased -41.35% to $322 million (55 cents per diluted share) in the quarter versus a net gain of $549 million in the year-earlier quarter.
Revenue: Rose 11.32% to $4.24 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Marathon Oil Corporation reported adjusted net income of 55 cents per share. By that measure, the company missed the mean analyst estimate of $0.67. It beat the average revenue estimate of $3.93 billion.
Quoting Management: “Last year, the first full year for Marathon Oil as an independent Exploration and Production (E&P) company, was marked by outstanding execution in our domestic resource plays, continued safe and reliable operations in our base assets and entry into new, high-potential exploration opportunities,” said Clarence P. Cazalot Jr., Marathon Oil’s chairman, president and CEO.
Key Stats (on next page)…