Investors might find confidence in a comment by ConocoPhillips’ management that dividend payouts are the company’s top priority.
Falling crude oil prices will cause ConocoPhillips’ earnings to decline by about $35–$40 million for each $1 change in WTI (West Texas Intermediate) crude.
ConocoPhillips’ total returns are significant given the oil industry carnage that’s going on.
ConocoPhillips’ cash flow from operations for nine months ended September 30, 2014, was ~$14 billion. OCF grew by ~13% year-over-year and 15% sequentially.
Two things stand out in ConocoPhillips’ net income report: a significant decline in 3Q14 revenues and an increase in net income despite a drop in revenues.
ConocoPhillips’ balance sheet shows 3Q14 liabilities of ~$14 billion. The quick ratio is 1.15x, which shows it has enough cash to cover short-term debts.
ConocoPhillips’ (COP) full-year 2014 production growth from continuing operations, excluding Libya, is expected to be ~1,525–1,535 Mboe/d.
ConocoPhillips’ capex breakdown for 2015 includes major projects, development drilling, exploration and appraisal, and base maintenance.
ConocoPhillips plans to cut its 2015 budget by $3.2 billion, or 20%. The crude oil price rout is likely to affect its 2015 capex spending decision.
Analysts expect ConocoPhillips’ revenues to be ~$11 billion in the fourth quarter, bringing the full-year outlook to ~$55 billion.
ConocoPhillips (COP) recently announced that it plans to release its 4Q14 earnings results on January 29.
Let’s now analyze what you should expect from Steel Dynamics’ 4Q earnings. Steel Dynamics (STLD) is expected to release its earnings on January 28.
In the previous part of this series, we analyzed the outlook for U.S. Steel’s flat-rolled segment. Let’s now discuss its European operations.
Let’s now analyze how U.S. Steel’s 4Q profits will be affected by lower steel prices.
We’ll analyze the impact of lower crude prices on U.S. Steel’s 4Q earnings in detail.
Rising imports: OCTG imports increased in 2014. This further puts pressure on manufacturers.
The raw material segment is expected to have a negative impact on Nucor’s 4Q profits.
Let’s now find out if you could run into a surprise in AK Steel’s 4Q results.
AK Steel (AKS) expects a significant reduction in its unit production costs. So it’s well positioned to benefit from lower raw material costs.
AK Steel (AKS) will be the first major steel company to release its 4Q earnings next week. 2014 was not a pleasant year for AK Steel investors.