Categories AlphaGraphs, Earnings, Energy

A visual dashboard of ConocoPhillips’ (COP) Q1 2020 earnings results

ConocoPhillips (NYSE: COP) swung to a loss in the first quarter of 2020 due to a change in Cenovus Energy equity market value, lower realized prices, and price-driven non-cash impairments. The oil and gas producer posted a loss of $1.7 billion or $1.60 per share compared to a profit of $1.8 billion or $1.60 per share in the prior-year quarter.

ConocoPhillips (COP) Q1 2020 Earnings Infograph

Revenue and other income totaled $4.8 billion, down 52% from the first quarter of 2019. On an adjusted basis, earnings slumped 55% to $0.45 per share.

Also Read:  Pandemic crisis: Low oil price, falling demand push oil & gas industry to the brink

Given the ongoing uncertainty, continued market volatility, and production curtailments over the coming months, the company suspended its fiscal 2020 guidance.

COP shares have retreated 36% since the beginning of this year.

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