ConocoPhillips’s Positive Earnings Trend Mitigates Losses

In 1Q16, excluding one-time items, ConocoPhillips (COP) reported earnings per share (or EPS) of -$0.95, $0.09 better than the consensus estimated EPS of -$1.04 per share. COP’s revenue fell by ~34% year-over-year to ~$5.1 billion.

As seen in the above chart, ConocoPhillips reported much lower EPS in 2015 due to lower realized crude oil (USO) and natural gas (UNG) prices. In 1Q15, ConocoPhillips saw its adjusted earnings turn negative for the first time since 2002.

Since 2013, ConocoPhillips has beat its earnings expectations ~69% of the time.

Since 2013, other upstream players SM Energy Company (SM), Pioneer Natural Resources (PXD), and Range Resources (RRC) have beat earnings expectations ~38%, ~75%, and ~54% of the time, respectively.