ConocoPhillips Q1 2024 Adj EPS $2.03 Misses $2.04 Estimate, Sales $14.476B Miss $15.047B Estimate
Portfolio Pulse from Benzinga Newsdesk
ConocoPhillips (NYSE:COP) reported Q1 2024 earnings of $2.03 per share, missing estimates by $0.01, and sales of $14.476B, missing estimates by $571M. This represents a decrease in both earnings and sales compared to the same period last year.

May 02, 2024 | 11:09 am
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NEGATIVE IMPACT
ConocoPhillips reported lower than expected Q1 2024 earnings and sales, with a notable decrease from the previous year.
Missing both earnings and sales estimates, especially with a year-over-year decline, typically leads to negative investor sentiment in the short term. The slight miss in EPS and more significant miss in sales expectations could lead to downward pressure on ConocoPhillips' stock price as the market reacts to the company's underperformance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100