Murphy Oil's Q4 Earnings and Revenues Lag Estimates, Expenses Decline

Murphy Oil Corporation MUR delivered fourth-quarter 2024 adjusted net earnings of 35 cents per share, lagging the Zacks Consensus Estimate of 56 cents by 37.5%. The bottom line decreased 61.1% from the year-ago quarter’s 90 cents.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.GAAP earnings were 34 cents per share compared with 75 cents in the year-ago quarter. The difference between GAAP and operating earnings was due to discontinued operations and other items affecting comparability between periods.Adjusted earnings per share of the company was $2.76 in 2024 compared with $4.52 in 2023.Revenues of Murphy OilMurphy Oil’s revenues were $670.9 million, which lagged the Zacks Consensus Estimate of $727 million by 7.7%.Total revenues for the full year came in at $3.02 billion compared with $3.46 billion in 2023. Murphy Oil Corporation Price, Consensus and EPS Surprise Murphy Oil Corporation price-consensus-eps-surprise-chart | Murphy Oil Corporation QuoteMurphy Oil’s Operational HighlightsMurphy Oil produced 174,837 barrels of oil equivalent per day (BOE/D) in fourth-quarter 2024 (excluding non-controlling interest in GOM) compared with 184,679 BOE/D in fourth-quarter 2023. Out of the total fourth-quarter 2024 production, 48.6% was oil. MUR’s fourth-quarter production was lower than the expected production volume of 181,500-1,89,500 BOE/D.Total costs and expenses were $585.8 million, down 8.7% from $641.4 million a year ago.MUR continues to reduce its outstanding debt since 2020.Tthe company has reduced 60% of its outstanding debts resulting in a 50% reduction in interest expenses.In 2024, Murphy repurchased $300 million of stock, or 8 million shares. Murphy did not repurchase any shares in the fourth quarter. The company had $650 million remaining under its share repurchase authorization and 145.8 million shares outstanding as of Dec. 31, 2024.Financial Condition of Murphy OilThe company had cash and cash equivalents of $423.6 million as of Dec. 31, 2024, compared with $317.1 million as of Dec. 31, 2023. It had $1.8 billion of liquidity as of Dec. 31, 2024.Long-term debt totaled $1.27 billion as of Dec. 31, 2024, compared with $1.32 billion as of Dec. 31, 2023.Net cash provided by continuing operational activities in 2024 was $1.73 billion compared with $1.75 billion in 2023.MUR’s ReservesAfter producing 65 million barrels of oil equivalent (MMBOE), Murphy’s preliminary year-end 2024 proved reserves were 713 MMBOE, consisting of 37% oil and 42% liquids. Total reserve replacement was 83% in 2024.The company expects its exploration expenses to be $26 million in first-quarter 2025.MUR’s 2025 GuidanceMUR expects its first-quarter 2025 production, excluding NCI, in the range of 159,000-167,000 BOE/D, out of which 51% is expected to be oil.The company reiterated 2025 capital expenditures in the band of $1.13-$1.28 billion.MUR expects its 2025 production in the range of 174,500-182,500 BOE/D, out of which 51% is expected to be oil.The company plans to bring 77 onshore new wells online in 2025.Zacks Rank of Murphy OilMurphy Oil currently has a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Upcoming ReleasesTotalEnergies SE TTE is going to report fourth-quarter 2024 earnings results on Feb. 5, 2025. The Zacks Consensus Estimate for fourth-quarter earnings per share is pegged $1.87, which remained same in the past 60 days.Devon Energy Corp. DVN is going to report fourth-quarter 2024 earnings results on Feb. 18, 2025. The Zacks Consensus Estimate for fourth-quarter earnings per share is pegged $1, which indicates an increase of 4.2% in the past 60 days. The stock delivered an average earnings surprise of 4.99% in the trailing four quarters.Occidental Petroleum OXY is going to report fourth-quarter 2024 earnings results on Feb. 18, 2025. The Zacks Consensus Estimate for fourth-quarter earnings per share is pegged 67 cents, which indicates an increase of 1.5% in the past 60 days. The stock delivered an average earnings surprise of 18.71% in the trailing four quarters.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Devon Energy Corporation (DVN): Free Stock Analysis Report Occidental Petroleum Corporation (OXY): Free Stock Analysis Report Murphy Oil Corporation (MUR): Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks