Marathon Oil (MRO) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Marathon Oil reported $1.69 billion in revenue for Q4 2023, a year-over-year decline of 2.4% with an EPS of $0.69 compared to $0.88 a year ago, indicating a decrease in profitability [1] - The revenue exceeded the Zacks Consensus Estimate by 1.95%, while the EPS surprised by 11.29% over the consensus estimate [1] Financial Performance Metrics - Average Price Realizations for Natural Gas Liquids in the U.S. were $20.92, slightly below the estimated $21.34 [2] - Average Price Realizations for Crude Oil and Condensate in the U.S. were $77.28, compared to the estimated $77.47 [2] - International Natural Gas Average Price Realizations were $0.24, below the estimated $0.27 [2] - Total Net Sales Volumes reached 400 million barrels of oil equivalent per day, surpassing the average estimate of 398.85 million [2] - Net Sales Volume per day for U.S. Crude Oil and Condensate was 179 million barrels, closely matching the estimate of 179.24 million [2] - Average Price Realizations for U.S. Natural Gas were $2.32, below the estimated $2.60 [2] - Net Sales Volume per day for U.S. Natural Gas was 520 million cubic feet, exceeding the estimate of 494.89 million [2] - Net Sales Volume per day for U.S. Natural Gas Liquids was 86 million barrels, above the estimate of 82.99 million [2] - International Natural Gas Net Sales Volume per day was 219 million cubic feet, below the estimate of 239.97 million [2] - International Natural Gas Liquids Net Sales Volume per day was 6 million barrels, below the estimate of 6.53 million [2] - Income from equity method investments was $45 million, a significant decline of 68.8% year-over-year, compared to the estimate of $49.90 million [2] - Revenues from contracts with customers were $1.59 billion, slightly below the estimate of $1.62 billion, representing a year-over-year decline of 1.1% [2] Stock Performance - Marathon Oil shares returned +3.6% over the past month, outperforming the Zacks S&P 500 composite's +3% change [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), suggesting potential underperformance relative to the broader market in the near term [3]