ConocoPhillips reported a strong fourth quarter, surpassing Wall Street's profit estimates with an adjusted EPS of $2.40, beating the expected $2.07, and an adjusted net income of $2.86 billion, higher than the estimated $2.5 billion. The company's cash flow from operations was $5.3 billion, exceeding the forecast of $5.21 billion. ConocoPhillips posted a revenue of $15.30 billion and a diluted EPS of $2.52. Looking ahead, ConocoPhillips anticipates a capital expenditure of $11.0 to $11.5 billion for 2024, which is in line with the estimated $11.21 billion, and expects production to be between 1.91 to 1.95 million barrels of oil equivalent per day (MBOED). The positive results were attributed to higher production from newly acquired assets. ConocoPhillips also plans to target $9 billion in shareholder returns for 2024, and its market cap is reported to be $135 billion, surpassing that of BP at approximately $100 billion.
PepsiCo got a bump to fourth-quarter profits, but higher prices have weakened consumer demand for the company's snacks and drinks. https://t.co/BqJs9t8071
PepsiCo was arguably the poster child for 'price over volume' in recent years, (per @SamuelRines) so it's interesting to see them start to reach the limits of the strategy as consumers push back. From the earnings call today: https://t.co/gtf5bqdRyJ
Pepsi revenue declines after US consumers flinch at higher prices https://t.co/VACq7yqgmY
$PEP Finally realizes it cannot keep pushing prices up Revenue: $27.85 billion vs. $28.4 billion expected Earnings per share: $1.78 adjusted vs. $1.72 expected https://t.co/4MS8qjtujU
PepsiCo signals demand hit from price hikes with rare sales decline https://t.co/jo5tz41IZt https://t.co/PvxwyMHLgq
Underwhelming volume at PepsiCo. But pricing remains very strong +7% globally, including 5% at Frito US & +9% at US beverages. Pushback evident at Quaker but elsewhere folks still mostly absorbing it. $PEP $KO $HSY $K $XLP $WMT https://t.co/YUW3294CSQ
$PEP Pepsi beats on eps, miss on rev. -1.7% premkt. FY outlook: "...but category growth rates will normalize and moderate versus the last few years. Consumers are likely to remain watchful with their budgets and choiceful with their purchases." https://t.co/xyVLcOdXAD
Enbridge misses fourth-quarter profit estimates on lower Mainline tolls #oott https://t.co/AUzpSX7lm1
⚠️ ENBRIDGE MISSES FOURTH-QUARTER PROFIT ESTIMATES (Reuters) Pipeline operator Enbridge on Friday missed fourth-quarter profit estimates, hurt by lower earnings from its gas transmission and midstream segment. The company posted an adjusted profit of 64 Canadian cents per… https://t.co/HRMbYrDOz7
$PEP: disappointing EPS. Hasn’t missed in over a decade. Pricing +9% vs volumes down 4% - culprit.
PepsiCo earnings top estimates, but quarterly revenue slides https://t.co/4lO0VGAI3S
$PEP | PepsiCo Q4 Earnings: - Adj. EPS $1.78 (Est. $1.72) - Sales $27.85B (Est. $28.40B) - Sees FY24 Adj. EPS $8.15 (Est. $8.14) - Raised Annualized Dividend By 7% To $5.42 Per Share From $5.06 Prior https://t.co/xR6hUCwb9T
⚠️ PEPSICO POSTS RARE SALES MISS AS PRICE HIKES DENT DEMAND (Reuters) PepsiCo fell short of Wall Street estimates for fourth-revenue as the soda and snacks giant's multiple price hikes crimped demand for its juices and Lay's crisps. The company's net revenue fell to $27.85… https://t.co/p2xAikuPVk
$PEP | Pepsico Q4 23 Earnings: - Core EPS: $1.78 (est $ 1.72) - Revenue: $27.85B (est $28.34B) - Sees 2024 Organic Revenue At Least +4% (est +5.2%)
PepsiCo Earnings Are Friday. The Impact of Higher Prices Will Be in Focus. https://t.co/yZhfkmSS28
Weak IQOS shipments drive Philip Morris' Q4 disappointment https://t.co/owiLeliP7Z https://t.co/shHGvm3e9z
⚠️ US OIL REFINERS BEAT WALL STREET BETS, EXPECT DEMAND TO GROW IN 2024 (Reuters) Major U.S. fuelmakers beat Wall Street's earnings expectations in the fourth quarter on strong refining margins and operating performance, and they predicted profits would rise again this year… https://t.co/PK3Gw8QOWw
Oil producer ConocoPhillips beats quarterly profit estimates on higher production https://t.co/rH6QQhMwio https://t.co/DsfKOSvbo8
Philip Morris International Inc. $PM Earnings: - Diluted EPS of $1.41 (-8.4% YoY) - Adjusted Diluted EPS of $1.36 (+12.2% YoY) - Revenue of $9 billion (+11% YoY) "Our business delivered a strong finish to 2023 and we achieved a number of remarkable milestones on our path to… https://t.co/aaRyIMTTSo
💰 Philip Morris $PM EPS. vs Forecast 1.36 / 1.45 🔴 Rev. vs Forecast 9.05B / 9.01B 🟢 Market Cap: 139.39B
ConocoPhillips $COP Earnings: - Diluted EPS of $2.52 - Adjusted Diluted EPS of $2.40 - Revenue of $15.30 billion “During 2023, ConocoPhillips continued to demonstrate strong financial and operational performance, executing on our returns-focused value proposition,” said Ryan… https://t.co/kNCRxlaYCe
💰 ConocoPhillips $COP EPS. vs Forecast 2.4 / 2.1 🟢 Rev. vs Forecast 14.68B / 15.16B 🔴 Market Cap: 133.37B
💰 Philip Morris $PM EPS. vs Forecast 1.36 / 1.45 🔴 Rev. vs Forecast 9.05B / 9.01B 🟢 Market Cap: 141.95B
E&P 4Q EARNINGS: The trend of strong results goes beyond Big Oil. ConocoPhillips, the largest of the E&P group, beats the consensus and targets $9 bn in shareholder returns for 2024. An important data point: at $135 billion market cap, $COP is today larger than $BP (~$100 bn).
⚠️ WEAK IQOS SHIPMENTS DRIVE PHILIP MORRIS' Q4 DISAPPOINTMENT (Reuters) Philip Morris International on Thursday missed estimates for fourth quarter profit and forecasts for 2024, with slowing sales of its flagship heated tobacco product IQOS in particular concerning analysts.… https://t.co/pCWkv321CR
$PM (-3.0% pre) Philip Morris Stock Falls on Earnings and Guidance Miss https://t.co/KRQ2tsxYgE
Oil producer ConocoPhillips beats quarterly profit estimates on higher production #oott https://t.co/QXhxSQVLRR
As price growth eases volume coming back nicely for stronger staples. Unilever hit 1.8% in Q4. Led by Lat Am +9% & US terrific +6%. Europe remains weak spot but with (still) so much pricing, is it any surprise? $UN $PG $CL $KO $PEP $XLP $WMT $XLY https://t.co/ttsIdTL8hi
ConocoPhillips beats fourth-quarter profit estimates #oott https://t.co/prHEhgLPUB
⚠️ T ROWE PRICE BEATS PROFIT ESTIMATES AS BULL MARKET CUSHIONS FUND OUTFLOW (Reuters) Investment manager T Rowe Price reported a smaller-than-feared drop in fourth-quarter profit on Thursday, helped by a rebound in equity markets that cushioned the hit from capital outflows.… https://t.co/kzVSpxs79q
⚠️ NYSE-PARENT ICE'S PROFIT RISES AS COMMODITY MARKETS BOOST TRADING VOLUMES (Reuters) Intercontinental Exchange reported a higher fourth-quarter profit on Thursday as trading volumes at the New York Stock Exchange parent surged, driven by strong growth in commodity and energy… https://t.co/aoObQEFlvt
ConocoPhillips’ stock gains after profit falls but beats expectations by a wide margin as production jumped https://t.co/ykEWo6ORVQ
⚠️ CONOCOPHILLIPS BEATS FOURTH-QUARTER PROFIT ESTIMATES ON HIGHER PRODUCTION (Reuters) U.S. oil and gas producer ConocoPhillips beat Wall Street estimates for fourth-quarter profit on Thursday, helped by higher production from newly acquired assets. ConocoPhillips had acquired… https://t.co/LNCQ0iwJTA
$COP | ConocoPhillips Q4 23 Earnings: - Adj EPS $2.40 (est $2.07) - Adj NET $2.86B (est $2.5B) - Cash Flow From OPS $5.3B (est $5.21B) - Sees 2024 CAPEX $11.0B TO $11.5B (est $11.21B) - Sees 2024 Production 1.91 To 1.95 MBOED