Marathon Oil (MRO) Misses Q4 EPS by 3c, Revenues Miss

Marathon Oil (NYSE: MRO) reported Q4 EPS of $0.07, $0.03 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $1.22 billion versus the consensus estimate of $1.27 billion.

• Marathon Oil reported fourth quarter 2019 net loss of $20 million, or $(0.03) per diluted share, which includes the impact of certain items not typically represented in analysts' earnings estimates and that would otherwise affect comparability of results.
• Adjusted net income was $55 million, or $0.07 per diluted share. Net operating cash flow was $700 million, or $685 million before changes in working capital.

"2019 was another year of differentiated execution for Marathon Oil as we comprehensively delivered on our framework for success for the second year in a row," said Chairman, President and CEO Lee Tillman. "We continue to improve our underlying corporate returns, we've delivered positive organic free cash flow for eight consecutive quarters, and we've returned over 20% of our cash flow from operations back to our shareholders since the beginning of 2018. We improved our capital efficiency in 2019 through meaningful reductions in both completed well cost and unit production expense, and further optimized and simplified our portfolio. We also enhanced our resource base through success across all elements of our comprehensive resource capture framework, adding over three years of inventory through organic enhancement, Resource Play Exploration, and bolt-on acquisitions and trades. Looking ahead to 2020 and beyond, our focus on differentiated execution will remain unchanged. We'll continue to be guided by our unwavering commitment to capital discipline and sustainability. This focus, along with our low organic free cash flow breakeven of $47/bbl in 2020, and even lower in 2021, will position Marathon Oil for success across a wide range of commodity price environments."

For earnings history and earnings-related data on Marathon Oil (MRO) click here.

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