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Murphy Oil Corp. (MUR)
NYSE:MUR
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.71Last Year’s EPS
$0.9Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -13.51%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant shareholder returns, debt management successes, and operational efficiencies, particularly in the Eagle Ford Shale and Tupper Montney assets. However, challenges in Terra Nova production and higher workover expenses were notable lowlights. The company's exploration initiatives in Vietnam and Cote d'Ivoire present promising opportunities for future growth.Company Guidance
In the third quarter of 2024, Murphy Oil Corporation focused on executing its operational priorities, achieving a production of 185,000 barrels of oil equivalent per day. The company repurchased $194 million of stock, totaling 5.4 million shares, and returned 110% of its adjusted free cash flow to shareholders through buybacks. Year-to-date, Murphy repurchased $300 million of stock and reduced its share count by 16% since the end of 2018. The company also made progress in its Gulf of Mexico well program and continued its exploration activities in Vietnam with the drilling of the Hai Su Vang well. Financially, Murphy reported a net income of $139 million and generated $397 million of adjusted EBITDA, with accrued capital expenditures of $211 million in the quarter. The company maintained a strengthened balance sheet with the issuance of senior notes due 2032 and entered into a new $1.2 billion senior unsecured credit facility. Looking ahead, Murphy forecasts fourth-quarter production between 181,500 to 189,500 barrels of oil equivalent per day and tightens its full-year production guidance to 180,000 to 182,000 barrels of oil equivalent per day.Strong Shareholder Returns
Murphy Oil returned 110% of adjusted free cash flow to shareholders through buybacks, repurchasing $194 million of stock in Q3 and $300 million year-to-date.
Successful Debt Management
Murphy extended its debt maturity profile by issuing senior notes due 2032 and entered a new $1.2 billion credit facility, increasing liquidity by 50%.
Operational Efficiency in Eagle Ford Shale
Achieved a 34% decrease in cost per completed lateral foot since 2023 and a 16% increase in pumping hours per day.
Tupper Montney Asset Performance
Exceeded guidance by 11 million cubic feet per day with a realized price of $1.35 per thousand cubic feet compared to an AECO average of $0.50.
Advancements in Vietnam and Cote d'Ivoire
Initiated construction of Lac Da Vang platform and drilling of exploration wells in Vietnam, with potential for significant oil production by 2026.
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MUR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MUR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $32.54 | $32.74 | +0.61% |
| Aug 08, 2024 | $36.08 | $36.40 | +0.89% |
| May 02, 2024 | $43.12 | $43.16 | +0.09% |
| Jan 25, 2024 | $37.20 | $37.10 | -0.27% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Murphy Oil Corp. (MUR) report earnings?
Murphy Oil Corp. (MUR) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Murphy Oil Corp. (MUR) earnings time?
Murphy Oil Corp. (MUR) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MUR EPS forecast?
MUR EPS forecast for the fiscal quarter 2024 (Q4) is $0.71.
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