ConocoPhillips Misses Q1 EPS Estimates on Lower Prices, Declares Dividend

ConocoPhillips reported a miss in its Q1 24 earnings, primarily due to a significant drop in natural gas prices which impacted demand. The U.S. oil and gas producer recorded an adjusted earnings per share (EPS) of $2.03, slightly below the expected $2.04, attributed to lower commodity prices. Additionally, its cash flow from operations was reported at $4.99 billion, missing the forecast of $5.05 billion. Despite these figures, the company's adjusted net income was $2.4 billion, slightly above the estimate of $2.39 billion. ConocoPhillips also declared a dividend, maintaining all fiscal year guidance items unchanged.