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Marathon Oil (MRO) Tops Q1 EPS by 10c

May 4, 2022 5:19 PM EDT

Marathon Oil (NYSE: MRO) reported Q1 EPS of $1.02, $0.10 better than the analyst estimate of $0.92. Revenue for the quarter came in at $1.75 billion versus the consensus estimate of $1.71 billion.


Guidance:

Marathon Oil's original 2022 financial outlook included over $3 billion of adjusted free cash flow generation at a reinvestment rate of less than 30% on a $1.2 billion capital budget, assuming $80/bbl WTI and $4/MMBtu Henry Hub. At $100/bbl WTI and $6/MMBtu Henry Hub, the Company expects to generate over $4.5 billion of 2022 adjusted free cash flow at a reinvestment rate of approximately 20% on an inflation-adjusted capital budget of $1.3 billion. 2022 production guidance remains unchanged, as the Company continues to expect oil and oil-equivalent production to remain flat with the 2021 averages. The Company is also raising its 2022 E.G. equity income guidance by $200 million, to a new range of $480 million to $520 million.

For earnings history and earnings-related data on Marathon Oil (MRO) click here.



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