Murphy Oil Q2 Adj. EPS $0.79 Beats $0.75 Estimate, Sales $814.59M Beat $779.43M Estimate
Portfolio Pulse from Benzinga Newsdesk
Murphy Oil (NYSE:MUR) reported Q2 earnings of $0.79 per share, beating the analyst consensus estimate of $0.75 by 5.33%. However, this is a 59.07% decrease from the same period last year. The company also reported quarterly sales of $814.59 million, beating the estimate of $779.43 million by 4.51%, but this is a 26.01% decrease from last year.
August 04, 2023 | 12:44 pm
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Murphy Oil's Q2 earnings and sales exceeded estimates, but both showed significant decreases compared to the same period last year.
While Murphy Oil beat estimates for Q2, the significant year-over-year decreases in both earnings and sales could potentially offset any positive impact from beating estimates. The market's reaction will likely depend on whether investors focus more on the beat or the year-over-year declines.
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