Earnings Preview: ConocoPhillips (COP) Q3 Earnings Expected to Decline

Company Overview - ConocoPhillips (COP) is expected to report a year-over-year decline in earnings, with a projected EPS of $1.82, reflecting a decrease of 15.7% [2] - Revenues are anticipated to be $14.63 billion, down 1.6% from the same quarter last year [2] Earnings Estimates and Revisions - The consensus EPS estimate has been revised down by 7.52% over the last 30 days, indicating a bearish sentiment among analysts [3] - The Most Accurate Estimate for ConocoPhillips is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -2.30% [6] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a favorable Zacks Rank [5] - ConocoPhillips currently holds a Zacks Rank of 4 (Sell), complicating the prediction of an earnings beat [6] Historical Performance - In the last reported quarter, ConocoPhillips was expected to post earnings of $2.06 per share but delivered only $1.98, resulting in a surprise of -3.88% [7] - Over the past four quarters, the company has beaten consensus EPS estimates three times [7] Market Context - The overall market sentiment indicates that an earnings beat or miss may not solely dictate stock movement, as other factors can influence investor reactions [8] - ConocoPhillips does not appear to be a compelling candidate for an earnings beat, suggesting that investors should consider additional factors before making investment decisions [8]