ConocoPhillips (COP) Tops Q1 EPS by 4c

ConocoPhillips (NYSE: COP) reported Q1 EPS of ($0.18), $0.04 better than the analyst estimate of ($0.22).

Outlook

The company is on track to meet its previously stated target of 2 to 3 percent production growth in 2015 from continuing operations, excluding Libya. Second-quarter 2015 production is expected to be 1,555 to 1,595 MBOED, which excludes Libya.

The company is also on track for $11.5 billion of capital expenditures and investments in 2015. Capital spending is expected to decrease throughout the year as major projects come on line and activity levels continue to ramp down in the North American unconventionals.

The company’s previous guidance remains unchanged, with depreciation, depletion and amortization of $9.0 billion, operating costs of $9.2 billion, exploration dry hole and leasehold impairment expense of $0.8 billion, and corporate segment expense of $1.0 billion.

For earnings history and earnings-related data on ConocoPhillips (COP) click here.

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