ConocoPhillips Q1 2024 Adj EPS $2.03 Misses $2.04 Estimate
Portfolio Pulse from Benzinga Newsdesk
ConocoPhillips (NYSE:COP) reported Q1 2024 adjusted earnings per share (EPS) of $2.03, missing the consensus estimate of $2.04 by 0.49%. This represents a 14.71% decrease from the $2.38 EPS reported in the same quarter last year.
May 02, 2024 | 11:01 am
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ConocoPhillips reported a slight miss in Q1 2024 earnings with an EPS of $2.03, against estimates of $2.04, and a 14.71% decrease from the previous year.
The slight miss in earnings expectations and the significant year-over-year decrease in EPS are likely to negatively impact investor sentiment towards ConocoPhillips in the short term. Typically, earnings misses, even by small margins, can lead to negative stock price reactions as they may signal underlying issues or a less optimistic future outlook.
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