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Thursday, August 11, 2022

Marathon Oil reports 1Q loss

HOUSTON (AP) _ Marathon Oil Corp. (MRO) on Wednesday reported a loss of $ 407 million in its first quarter.

The Houston-based company said it had a loss of 56 cents per share. Losses, adjusted for non-recurring costs, were 43 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 47 cents per share.

The energy company posted revenue of $ 730 million in the period.

Marathon Oil shares have decreased slightly more than 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. In the final minutes of trading on Wednesday, shares hit $ 12.17, a fall of 61 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRO at http://www.zacks.com/ap/MRO

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Keywords: Marathon Oil, Earnings Report

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