COP Beats By Ten Cents; Doubles Earnings; BHGE Adjusted Income Doubles -- April 30, 2019

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or think you may have read here.

Others reporting today:

• PSX (Phillips 66): forecast, 39 cents; Market Street forecasts 34 cents;
• AAPL, after market close, forecast, $2.36
• BHGE: forecast, 13 cents; actual -- adjusted income doubles; 15 cents/share;
• COP: forecast, 90 cents; business wire here;
• GM: forecast, $1.11; actual -- a beat; beat driven by lucrative pickup truck sales; lifted in part by revaluations of shares it holds in ride-hailing company Lyft and Peugeot; 7% decline in US new-vehicle sales in 1Q19; GM pickups outsold by smaller rival Fiat Chrysler; net profit, $1.48; adjusted, $1.41; pre-tax earnings fell more than 11% [Comment: seems like a very, very mixed report; nice beat on earnings but everything else "shaky." Investors seems to agree: GM shares down almost 2% after earnings released. On a day that the market is up slightly, but broadly, GM continues to fall -- in early pre-market trading fell almost 3% before recovering a bit.]

COP: earnings presentation (slides) here. Earnings transcript here. 

COP: from link above --

• earnings: $1.8 billion; $1.60/share -- vs $0.9 billion, 75 cents a year ago
• adjusted, $1.1 billion, $1.00/share beating forecast of 90 cents/share
• cash from operations: $2.9 billion
• free cash flow: $1.3 billion
• repurchased $0.8 billion of shares; paid $0.3 billion in dividends -- funded entirely from free cash flow
• grew production from the Lower 48 Big 3 unconventionals by 30 percent y-o-y
• cash on hand at end of year: $6.5 billion
• reminder: court ordered Venezuela to pay COP $8.7 billion for unlawful expropriation
• pays 1.83% 
• 8-K here

COP at SeekingAlpha:

• ConocoPhillips up 1.3% pre-market after reporting a solid Q1 earnings beat, helped by increased production from its U.S. assets.
• COP did not provide revenue results in the release, but says Q1 production excluding Libya rose 7.5% to 1.32M boe/day, and expects Q2 output of 1.24M-1.28M boe/day, with seasonal turnarounds planned in Alaska, Canada and Europe.
• COP's total realized price in the quarter was $50.59/bbl vs. $50.49/bbl a year ago, as higher LNG and bitumen prices were largely offset by lower crude, natural gas liquids and natural gas prices.
• COP also reiterates its long-term cash flow outlook from the November analyst meeting, where it said it expects to generate absolute and per-share organic growth and return at least 30%/year of cash from operations to shareholders and deliver free cash flow at less than $40/bbl WTI across a range of prices.