Earnings Scorecard: 6 out of 10 energy firms deliver EPS wins this week

Energy sector stocks drew attention this week as Wall Street digested earnings reports from companies including ConocoPhillips (COP [https://seekingalpha.com/symbol/COP]) and Devon Energy (DVN [https://seekingalpha.com/symbol/DVN]).

Ten S&P 500 energy companies reported quarterly results this week, with six surpassing earnings expectations. On the revenue front, six topped Wall Street estimates, while the remainder came in below forecasts.

So far this year, the energy sector has gained [https://seekingalpha.com/symbol/XLE/charting?interval=YTD#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] 3.25%, compared to the broader S&P500 index that surged [https://seekingalpha.com/symbol/SPY/charting?interval=YTD#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] 14.26% in the same period.

Below are the latest quarterly reports from top energy companies this week:

CONOCOPHILLIPS (COP [https://seekingalpha.com/symbol/COP]) posted Q3 adjusted earnings of $1.61/share, above [https://seekingalpha.com/news/4517436-conocophillips-shares-little-changed-after-q3-beat-production-outlook-boost] the $1.41 consensus, supported by higher production and lower operating costs that helped offset weaker crude prices. Output rose 25% Y/Y to 2.4M boe/day due to the Marathon Oil acquisition, and the company raised its quarterly dividend by 8% to $0.84/share.

The company said contributions from U.S. onshore assets, including the Delaware and Eagle Ford basins, supported volumes during the period, partially mitigating the impact of a 13% Y/Y decline in Brent crude prices.

DEVON ENERGY (DVN [https://seekingalpha.com/symbol/DVN]) posted Q3 non-GAAP EPS of $1.04, beating [https://seekingalpha.com/news/4516413-devon-energy-non-gaap-eps-of-1_04-beats-by-0_10] consensus by $0.10, with oil, gas and NGL sales totaling $2.8B. Realized pricing averaged $36.46/boe, supported by higher crude benchmarks, partially offset by lower natural gas and NGL prices.

The company noted that regional gas price differentials in the Delaware Basin weighed on natural gas realizations, while commodity hedges provided partial protection during the quarter.

MARATHON PETROLEUM (MPC [https://seekingalpha.com/symbol/MPC]) posted [https://seekingalpha.com/news/4514858-marathon-petroleum-plunges-after-q3-earnings-miss-sees-continued-high-turnaround-costs] Q3 adjusted earnings of $3.01/share, missing the $3.16 consensus, as elevated planned maintenance and higher operating costs offset strong demand and wider refining margins. Turnaround costs rose to ~$400M from $287M a year earlier.

Operating costs increased across regions, including higher costs at the U.S. Gulf Coast, where downtime at the Galveston Bay refinery following a June fire affected capture rates and overall quarterly performance.

So far this quarter, almost 76% of the S&P 500 energy companies reporting results have recorded an EPS beat, while 24% missed estimates. In terms of revenue, roughly 81% of companies topped expectations, with about 19% falling short.

For the upcoming week, Occidental Petroleum (OXY [https://seekingalpha.com/symbol/OXY]) is set to report its quarterly results.

This week, the Energy Select Sector SPDR Fund ETF (XLE [https://seekingalpha.com/symbol/XLE]) rose [https://seekingalpha.com/symbol/XLE/charting] about 0.15%, while the broader SPDR S&P 500 ETF Trust (SPY [https://seekingalpha.com/symbol/SPY]) declined [https://seekingalpha.com/symbol/SPY/charting] roughly 1.91%.

MORE ON

* Evolent Health projects $2.5B 2026 revenue with $750M in new contracts while expanding oncology partnerships [https://seekingalpha.com/news/4518930-evolent-health-projects-2_5b-2026-revenue-with-750m-in-new-contracts-while-expanding-oncology]
* Camden Property Trust outlines 2025 FFO guidance increase and signals $400M buyback potential amid supply moderation [https://seekingalpha.com/news/4518929-camden-property-trust-outlines-2025-ffo-guidance-increase-and-signals-400m-buyback-potential]