Concho Resources (CXO) Tops Q2 EPS by 67c

Concho Resources (NYSE: CXO) reported Q2 EPS of $1.13, $0.67 better than the analyst estimate of $0.46. Revenue for the quarter came in at $474 million versus the consensus estimate of $788.07 million.

Outlook

The Company’s full-year 2020 production and capital expenditure expectations are unchanged at 197 MBopd and $1.6 billion, respectively. Controllable costs are forecasted to be approximately $250 million in the third and fourth quarters of 2020, and oil and gas production taxes are forecasted to be 8% to 10% of oil and gas revenues.

For earnings history and earnings-related data on Concho Resources (CXO) click here.

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