The 10-second takeaway
For the quarter ended Dec. 31 (Q4), ConocoPhillips crushed expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly, and GAAP earnings per share improved significantly.
Margins expanded across the board.
ConocoPhillips recorded revenue of $62.39 billion. The two analysts polled by S&P Capital IQ foresaw revenue of $46.91 billion. Sales were 32% higher than the prior-year quarter's $53.22 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $2.02. The 15 earnings estimates compiled by S&P Capital IQ predicted $1.79 per share on the same basis. GAAP EPS of $2.56 for Q4 were 83% higher than the prior-year quarter's $1.40 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 22.2%, 150 basis points better than the prior-year quarter. Operating margin was 10.3%, 540 basis points better than the prior-year quarter. Net margin was 5.4%, 110 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $47.69 billion. On the bottom line, the average EPS estimate is $1.93.
Next year's average estimate for revenue is $212.88 billion. The average EPS estimate is $8.49.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ConocoPhillips is hold, with an average price target of $79.61.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.