ConocoPhillips (COP) tops Q4 earnings estimates
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ConocoPhillips reports fourth-quarter and full-year 2023 results, 123% preliminary reserve replacement ratio; announces 2024 guidance and planned return of capital of $9B; declares quarterly ordinary
February 8, 2024 7:00 AM ESTHOUSTON--(BUSINESS WIRE)-- ConocoPhillips (NYSE: COP) today reported fourth-quarter 2023 earnings of $3.0 billion, or $2.52 per share, compared with fourth-quarter 2022 earnings of $3.2 billion, or $2.61 per share. Excluding special items, fourth-quarter 2023 adjusted earnings were $2.9 billion, or $2.40 per share, compared with fourth-quarter 2022 adjusted earnings of $3.4 billion, or $2.71 per share. Special items for the current quarter were comprised of a benefit related to the reversal of a tax reserve, partially offset by a loss on foreign exchange contracts.
Full-year 2023 earnings were $11.0 billion, or $9.06 per share, compared with full-year 2022 earnings of $18.7 billion, or $14.57 per share. Excluding special items, full-year 2023... More
