Murphy Oil Reports Lower-Than-Expected Q4 Earnings and Revenue
HOUSTON, March 9, 2023 - Murphy Oil Corporation (MUR) announced its financial results for the fourth quarter and full year of 2022.
Q4 Results:
* Net income: $50.3 million
* Earnings per share: $0.34
* Adjusted earnings per share: $0.35
* Revenue: $671 million
These results fell short of analysts' expectations, with Zacks Investment Research forecasting earnings per share of $0.56 and revenue of $726.6 million.
Full-Year Results:
* Net income: $407.2 million
* Earnings per share: $2.70
* Revenue: $3.03 billion
The company attributed its weaker-than-expected performance to challenging market conditions in the oil and gas industry.