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Murphy Oil Corporation (MUR - Free Report) delivered fourth-quarter 2023 adjusted net earnings of 90 cents per share, missing the Zacks Consensus Estimate of $1.03 by 12.6%. The bottom line also declined 18.2% from the year-ago quarter’s earnings of $1.10.
Murphy Oil’s 2023 earnings were $4.52 compared with $5.59 in 2022. This reflected year-over-year decline of 19.1%.
Revenues
In the quarter under review, Murphy Oil’s revenues of $844 million surpassed the Zacks Consensus Estimate of $837 million by 0.8%. The top line declined 13.4% from the prior-year quarter’s $975.2 million.
Murphy Oil’s 2023 revenues were $3.46 billion compared with $3.93 in 2022. This marked year-over-year fall of 11.9%.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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