Post Tagged with: "Earnings"

Source: CNBC

Market heads into worst earnings season in 12 years amid worries virus is slowing recovery

CNBC


The worst earnings season in years is about to begin, and it’s possible the stock market could shrug off the sharp profit decline, as long as companies see some signs of a recovery ahead.

Earnings are expected to fall …

Source: Reuters

‘Disaster’ U.S. earnings loom, but investors try and look beyond

Reuters


NEW YORK – U.S. companies are preparing to open their books on a quarter that is set to show the biggest earnings fall since the financial crisis, leaving investors looking for light at the end of the tunnel.

The …

July 9, 2020 - 2:00 pm Closing Bell Story‎, Earnings, Economy, Finance
Fortis Inc. reports first quarter 2020 earnings¹

Fortis Inc. reports first quarter 2020 earnings¹

Oil and Gas 360


ST. JOHN’S, Newfoundland and Labrador, May 06, 2020 (GLOBE NEWSWIRE) — Fortis Inc. (“Fortis” or the “Corporation”) (TSX/NYSE: FTS), a well-diversified leader in the North American regulated electric and gas utility industry, released its first quarter …

Source: CNBC

Total’s net profit falls 35% in the first quarter as oil prices slide

CNBC


Total on Tuesday posted a significant fall in first-quarter net profit, as oil prices tumbled to historic lows following a drop-off in demand due to the coronavirus crisis.

The French energy major reported Tuesday that first-quarter net profit came

Source: CNBC

BP’s net profit slides 67% in the first quarter following a historic fall in oil prices

CNBC


Energy giant BP reported a significant fall in first-quarter net profit on Tuesday, as oil prices continue to dive amid intensifying concerns about the coronavirus crisis and dwindling storage capacity.

The U.K.-based oil and gas company posted first-quarter underlying

Source: Reuters

Big Oil investors to look past earnings pain and focus on dividends

Reuters


LONDON/HOUSTON – Investors already braced for poor first-quarter earnings from major oil and gas companies next week will focus on how executives plan to save cash and whether they will cut dividends following the collapse in oil prices.

The …

Source: CNBC

Coronavirus-earnings season: What to expect as companies begin to report Tuesday

CNBC


JPMorgan Chase kicks off earnings season on Tuesday. The bad news: Short-term guidance will be very ugly.

 But there’s some good news:

 1) The Securities and Exchange Commission has told corporations that this earnings season is not routine and
April 13, 2020 - 2:00 pm Capital Markets, Closing Bell Story‎, Earnings, Economy, Finance
Source: Houston Chronicle

CenterPoint earnings double as interim CEO says he has no plans to step down

Houston Chronicle


CenterPoint Energy reported that a growing number of new customers, favorable weather and better cost management helped the company more than double its earnings last year.

“I am very pleased with our 2019 results,” said John W. Somerhalder …

February 28, 2020 - 3:30 pm Closing Bell Story‎, Energy News, Power Generation
Source: Houston Chronicle

Phillips 66 profit cut by more than half in 4th quarter

Houston Chronicle


Houston refining and pipeline company Phillips 66 on Friday reported a $689 million fourth-quarter profit, 51 percent less than the same period in 2018.

The fourth quarter performance resulted in Phillips 66 closing 2019 with a nearly $3.7 …

Source: CNBC

Chevron posts $6.6 billion loss in the fourth quarter

CNBC


Chevron on Friday posted a $6.6 billion loss in the fourth quarter due to $10.4 billion worth of write-offs related to shale gas production in Appalachia and deep-water projects in the Gulf of Mexico. In December, the company warned

Source: Houston Chronicle

Exxon Mobil’s profit tumbled 30% in 2019, 5% in final quarter

Houston Chronicle


Exxon Mobil’s fourth-quarter profit declined by 5 percent, capping a year in which earnings plunged by more than 30 percent.

The company’s $5.7 billion profit in the fourth quarter lagged the previous year on weaker sales and pricing …

Source: murphyoilcorp.com

Murphy Oil Corporation announces fourth quarter and full year 2019 results, 2020 guidance

Oil and Gas 360


EL DORADO, Ark.

Achieved 172% Organic Reserve Replacement

Signed Memorandum of Understanding for King’s Quay Floating Production System

Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the fourth quarter ended December

Source: CNBC

Shell shares sink as full-year net profit tumbles 23% on lower oil and gas prices

CNBC


Oil giant Royal Dutch Shell reported a sharp fall in full-year net profit on Thursday, citing challenging macroeconomic conditions and lower oil and gas prices.

Net income attributable to shareholders on a current cost of supplies (CCS) basis and …

Source: valero.com

Valero refineries to run up to 91% of combined capacity in first quarter 2020: company

Reuters


HOUSTON – Independent U.S. refiner Valero Energy Corp plans for its 15 refineries to operate up to 91% of their combined capacity of 3.13 million barrels per day (bpd), said Homer Bhullar, vice president of investor relations, in a …

Source: Reuters

At Exxon, CEO’s promised turnaround sapped by chemicals, refining

Reuters


HOUSTON – At Exxon Mobil Corp (XOM.N), CEO Darren Woods’ plan to revive earnings at the largest U.S. oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining.

Another year …

McDermott posts $1.9 billion loss amid stock price plunge, project cost overruns

McDermott posts $1.9 billion loss amid stock price plunge, project cost overruns

Houston oilfield service company McDermott International posted another steep loss during the third quarter amid falling stock prices and cost overruns on multiple projects, including two liquefied natural gas plants near the Bayou City.

McDermott posts $1.9 billion loss amid stock price plunge, project cost overruns - oil and gas 360

In a Monday afternoon filing with …

November 5, 2019 - 9:02 am Closing Bell Story‎, Earnings, Offshore, Oilfield Services
Big Oil, investors face returns reckoning amid darkening economy

Big Oil, investors face returns reckoning amid darkening economy

Source: Reuters


LONDON (Reuters) – Darkening clouds over the global economy have led two of the world’s top oil firms to warn investors that promised growth in returns could be at risk for the first time since the 2014 oil …

Photo: Craig Hartley, Bloomberg News

Losses continue to mount for National Oilwell Varco in third quarter

Houston Chronicle


Losses continue to mount for Houston oil field service company National Oilwell Varco, which posted a nearly quarter billion dollar loss during the third quarter.

In a statement released after close of market on Monday, NOV reported a …

October 29, 2019 - 9:05 am Closing Bell Story‎, Earnings, Oilfield Services
Source: Occidental Petroleum

Oxy Lowers Production Guidance on Legacy Anadarko Assets

From The Houston Chronicle


With Occidental Petroleum finalizing its $38 billion acquisition of Anadarko Petroleum last week, Oxy is now lowering its oil and gas production guidance for the legacy Anadarko assets.

For the rest of this year, Oxy said …

Source: Magellan Midstream

Magellan Midstream Prices $500 Million Debt Offering Due 2050

By Tyler Losier, Energy Reporter, Oil & Gas 360

Magellan Midstream prices $500 million of its 3.950% senior notes due 2050
Magellan Midstream Partners LP (stock ticker: MMP), based out of Tulsa, Oklahoma, has priced $500 million of its 3.950%

Marathon Oil Profit Jumps 50% on Higher U.S. Shale Production

Marathon Oil Profit Jumps 50% on Higher U.S. Shale Production

From Reuters


Marathon Oil Corp (MRO.N) reported a 50% jump in quarterly adjusted profit on Wednesday, as higher U.S. shale output countered lower realized crude prices and production costs fell.

The company, like many other U.S. oil producers, is extracting …

Source: Ithaca Energy Limited

Exxon Mobil Profit Sinks, Chevron Rises as Both Boost Output

From Reuters


Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday.

Exxon’s topped analysts’ reduced estimates for the quarter but net …

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

Oxy Earnings Dip 25%; Anadarko Megadeal Likely to Close Aug. 8

From The Houston Chronicle


Occidental Petroleum reported a $635 million quarterly profit that dipped 25 percent from the year prior, but the focus still remains on Oxy’s $38 billion acquisition of Anadarko Petroleum that could close in August.

Houston-based Oxy …

Source: Occidental Petroleum

Occidental Petroleum Profit Falls on Low Gas Prices, Derivative Contracts

From Reuters


Occidental Petroleum Corp, which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% fall in core profit on Wednesday, as higher crude prices and volumes were offset by adjustments to …

GE’s Baker Hughes Beats Estimates on International Demand, LNG Drilling

GE’s Baker Hughes Beats Estimates on International Demand, LNG Drilling

From Reuters


General Electric Co’s oilfield services arm, Baker Hughes, beat quarterly profit estimates on Wednesday, driven by higher LNG drilling and demand for its oilfield services in international markets, sending its shares up nearly 6%.

Revenue in the oilfield …

Seven Generations Energy Releases Second Quarter Earnings

Seven Generations Energy Releases Second Quarter Earnings

Seven Generations Energy Delivers $355 Million of Adjusted Funds Flow, $1.00 Per Share, and $44 Million of Free Cash Flow in the Second Quarter Of 2019

Oil & Gas 360 - KLX Energy Services Completes Motley Acquisition frac truck

National Oilwell Varco Posts Nearly $5.4 Billion Loss During Second Quarter

From The Houston Chronicle


Houston oilfield service company National Oilwell Varco reported a multibillion loss during the second quarter amid what executives are calling a “generational oilfield downturn.”

NOV reported a nearly $5.39 billion loss on $2.13 billion of revenue …

BP Profit Again Outstrips Forecasts, Lifted by Higher Oil Output

BP Profit Again Outstrips Forecasts, Lifted by Higher Oil Output

From Reuters


A strong rise in oil and gas production helped BP (BP.L) offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares.

BP’s second quarter contrasts with Total (TOTF.PA) and …

ConocoPhillips Profit Misses on Lower Crude Prices, Higher Spending

ConocoPhillips Profit Misses on Lower Crude Prices, Higher Spending

From Reuters


ConocoPhillips (COP.N) missed Wall Street estimates for quarterly profit on Tuesday as it spent more than expected and took a hit from lower crude prices due to fears of a slowing global economy.

The OPEC and …