Yahoo Finance What to Expect from Concho Resources’ 1Q16 Earnings
What to Expect from Concho Resources’ 1Q16 Earnings
Concho Resources’s 1Q16 revenue estimates
Concho Resources (CXO) will release its 1Q16 earnings after the Market closes on May 4, 2016. The company’s 1Q16 revenue estimate stands at ~$544.38 million, and its revenue in 1Q15 was ~$580.7 million. In 4Q15, Concho Resources reported adjusted revenue of ~$578.6 million. The consensus Wall Street estimate for revenue was ~$597 million. CXO’s 4Q15 revenue was ~16% lower than its 4Q14 revenue of ~$692.4 million.
Concho Resources’s 1Q16 earnings per share estimates
Concho Resources’ (CXO) 1Q16 EPS (earnings per share) estimate is ~$0.01. CXO’s 4Q15 adjusted EPS came in at -$0.07 versus the consensus Wall Street estimate of EPS of ~$0.03. CXO’s 4Q14 EPS came in at $0.88. Lower crude oil prices have weighed heavily on the upstream energy sector, pulling down realized prices and hurting earnings.
CXO’s 4Q15 loss came in worse than expected in 4Q15, unlike the previous three quarters, when earnings came in better than expected. Investors will watch to see if this trend continues in 1Q16.
CXO’s peers Cimarex Energy (XEC), Newfield Exploration (NFX), and Diamondback Energy (FANG) are expected to report 1Q16 EPS of -$0.39, -$0.10, and -$0.04, respectively. These companies make up 8% of the iShares US Oil & Gas Exploration & Production ETF (IEO).
Concho Resources’ 2015 revenue and earnings recap
In 2015, CXO reported adjusted EPS of $0.91, as compared to $4.0 in 2014. CXO’s 2015 revenue came in at ~$2.4 billion, as compared ~$2.7 billion in 2014.
In the next part of this series, we’ll look at CXO’s production guidance for 2016.
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