MARATHON OIL CORPORATION

(MRO)
  Report
Delayed Nyse  -  04:00 2022-06-24 pm EDT
22.05 USD   +0.14%
06/24S&P 500 Posts 6.4% Weekly Gain, Paring June's Losses After Weeks of Declines; Consumer Discretionary Leads Climb, Energy Bucks Rally
MT
06/24Citigroup Downgrades Marathon Oil to Neutral From Buy, Adjusts Price Target to $24 From $31
MT
06/22Marathon Oil Shares Hit Three-Month Low as Oil Prices Retreat
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Marathon Oil : 1Q 2022 Earnings Investor Package (PDF)

05/05/2022 | 08:20am EDT

First Quarter 2022

Table of Contents:

Statements of Income

2

Guy Baber

713/296-1892

Balance Sheets

3

gbaber@marathonoil.com

Statements of Cash Flows

4

Segment Income Summary

5

John Reid

713/296-4380

United States Segment Supplemental Financial Data

6

jreid@marathonoil.com

International Segment Supplemental Financial Data

7

Non-GAAP Reconciliations

8 - 12

Investor Relations

990 Town and Country Boulevard

Houston, TX 77024-2217

Additional information regarding Investor Relations,

Financial Highlights, and News Releases can be reviewed on our website at: https://ir.marathonoil.com/May 4, 2022

Consolidated Statements of Income

(In millions, except per share data)

2022

REVENUES AND OTHER INCOME:

Revenues from contracts with customers

$

1,761

Net gain (loss) on commodity derivatives

(143)

Income (loss) from equity method investments

127

Net gain (loss) on disposal of assets

-

Other income

8

Total revenues and other income

1,753

COSTS AND EXPENSES:

Production

152

Shipping, handling and other operating

185

Exploration

11

Depreciation, depletion and amortization

423

Impairments

-

Taxes other than income

104

General and administrative

73

Total costs and expenses

948

Income (loss) from operations

805

Net interest and other

(22)

Other net periodic benefit (costs) credits

4

Loss on early extinguishment of debt

-

Income (loss) before income taxes

787

Estimated income tax provision (benefit)

Current

31

Deferred

(548)

Total provision (benefit) for income taxes

(517)

NET INCOME (LOSS)

$

1,304

Effective income tax rate

(66)%

Per common share data:

Basic:

Weighted average shares (millions)

730

NET INCOME (LOSS)

$

1.79

Diluted:

Weighted average shares (millions)

732

NET INCOME (LOSS)

$

1.78

Dividends paid per common share

$

0.07

1st Qtr 2021

2nd Qtr 2021

3rd Qtr 2021

4th Qtr 2021

Year 2021

$

1,177

(153)

44 -

3

$

1,254

(166)

49

1

5

$

1,438

(79)

86

7

1

$

1,732

15

74

(27)

6

$

5,601

(383)

253

(19)

15

1,071

121

152

21

496

1

74

89

1,143

126

167

25

532

46

74

68

1,453

131

219

63

522

13

88

70

1,800

156

189

27

516 -

109

64

5,467

534

727

136

2,066

60

345

291

954

1,038

1,106

1,061

4,159

117

(13)

3 -

105

(59) (1) (19)

347

(57) - (102)

739

(59)

3 -

1,308

(188)

5 (121)

107

14 (4)

26

13 (3)

188

29 (25)

683

29 5

1,004

85 (27)

10

10

4

34

58

$

97

$

16

$

184

$

649

$

946

9%

38 %

2%

5%

6%

$

789 0.12

$

789 0.12

$

789 0.02

$

789 0.02

$

789 0.23

$

789 0.23

$

771 0.84

$

773 0.84

$

787 1.20

$

788 1.20

$

0.03

$

0.04

$

0.05

$

0.06

$

0.18

1st Qtr

Consolidated Balance Sheets

(In millions)

ASSETS

Current assets:

Cash and cash equivalents

$

681

Receivables less allowance for doubtful accounts

1,443

Inventories

78

Other current assets

28

Total current assets

2,230

Equity method investments

522

Property, plant and equipment, net

14,422

Deferred tax assets

554

Other noncurrent assets

253

Total assets

$

17,981

LIABILITIES

Current liabilities:

Accounts payable

$

1,299

Payroll and benefits payable

42

Accrued taxes

169

Other current liabilities

405

Long-term debt due within one year

106

Total current liabilities

2,021

Long-term debt

3,908

Deferred tax liabilities

144

Defined benefit postretirement plan obligations

132

Asset retirement obligations

296

Deferred credits and other liabilities

114

Total liabilities

6,615

TOTAL STOCKHOLDERS' EQUITY

11,366

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

17,981

Common stock issued

937

Common stock held in treasury

220

Net shares outstanding at balance sheet date

717

Mar. 31 2021

June 30 2021

Sept. 30 2021

Dec. 31 2021

$

1,125 921 78 26

$

970 1,008 78 19

$

485 1,068 77 25

$

580 1,142 77 22

2,150

460 15,313 - 310

2,075

458 15,019 - 248

1,655

489 14,734 - 283

1,821

450 14,499 - 224

$

18,233

$

17,800

$

17,161

$

16,994

$

918

37

78

366

500

$

937

49

95

461

33

$

1,028

64

131

417

36

$

1,110

74

157

260

36

1,899

4,905

160

176

251

171

1,575

4,875

156

151

272

137

1,676

3,977

132

137

286

157

1,637

3,978

136

137

288

132

7,562 10,671

7,166 10,634

6,365 10,796

6,308 10,686

$

18,233

$

17,800

$

17,161

$

16,994

937

937

937

937

149

148

148

194

788

789

789

743

Mar. 31 2022

Consolidated Statements of Cash Flows (YTD)

Marathon Oil Corporation

(In millions)

OPERATING ACTIVITIES: Net income (loss)

Adjustments to reconcile to net cash provided by operating activities:

Depreciation, depletion and amortization

Impairments

Exploratory dry well costs and unproved property impairments Net (gain) loss on disposal of assets

Loss on early extinguishment of debt Deferred income taxes

Unrealized (gain) loss on derivative instruments Pension and other post retirement benefits, net Stock-based compensation

Equity method investments, net Changes in:

Current receivables Inventories

Current accounts payable and accrued liabilities Other current assets and liabilities

All other operating, net

Net cash provided by operating activities

INVESTING ACTIVITIES:

Additions to property, plant and equipment Acquisitions, net of cash acquired

Disposal of assets, net of cash transferred to the buyer Equity method investments - return of capital

All other investing, net

Net cash used in investing activitiesFINANCING ACTIVITIES:

Debt repayments

Debt extinguishment costs

Shares repurchased under buyback programs Dividends paid

Purchases of shares for tax withholding obligations All other financing, net

Net cash provided by (used in) financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period

Mar. 31 2021

June 30 2021

Sept. 30 2021

Dec. 31 2021

$

97

496

1

17 - -

(4)

82

(7)

6

(14)

(175)

(2)

101

61

(37)

$

113

1,028

47

39

(1)

19

(7)

157

(14)

17

(17)

(253)

(2)

121

73

(43)

$

297

1,550

60

101

(8)

121

(32)

130

(25)

29

(57)

(313)

(1)

228

66

(53)

$

946

2,066

60

125

19

121

(27)

(16)

(31)

40

(76)

(389)

(1)

369

46

(13)

622

(209)

- 3 -

(1)

1,277

(483)

- 15 6

(1)

2,093

(772)

- 29 15 -

3,239

(1,046)

(47) 22 61 -

(207)

- - -

(23)

(9) -

(463)

(500)

(19) -

(55)

(9)

(3)

(728)

(1,400)

(117)

-

(94)

(10)

(1)

(1,010)

(1,400)

(117)

(724)

(141)

(10)

1

(32) 383 742

(586) 228 742

(1,622)

(257) 742

(2,391)

(162) 742

$

1,125

$

970

$

485

$

580

(27) (16) (31)

(76)

(389)

(1)

(13)

(1,046)

(47)

(1,010)

(1,400)

(117) (724)

(141)

(10)

(2,391)

(162)

Mar. 31 2022

$

1,304

423 -

8 - -

(548)

114

(9)

9

(79)

(307)

(2)

101

(5)

58 1,067

(332)

- 2 7 -

(323)

-

-

(592)

(52)

(21)

22

$

(643) 101 580 681

Segment Income Summary Marathon Oil Corporation

(In millions)

Segment income (loss)

United States International

Segment income (loss)

Not allocated to segments - Corporate items:

Net interest and other

Other net periodic benefit (costs) credits General and administrative

Other income and costs Income tax (provision) benefit

Not allocated to segments - Adjustments for special items:

Net gain (loss) on disposal of assets

Proved property impairments

Exploratory dry well costs, unproved property impairments and other Pension settlement

Unrealized gain (loss) on derivative instruments Unrealized gain (loss) on interest rate swaps (a) Reduction in workforce (b)

Loss on early extinguishment of debt Other (c)

Benefit for income taxes related to special items Valuation allowance

Total special items

Not allocated to segments - Total

Net income (loss)

  • (a) Included within Net interest and other on our consolidated statements of income.

  • (b) Included within General and administrative on our consolidated statements of income.

    1st Qtr 2021

    2nd Qtr 2021

    3rd Qtr 2021

    4th Qtr 2021

    Year 2021

    $

    212 50

    $

    207 68

    $

    305 93

    $

    553 106

    $

    1,277 317

    262

    (54)

    3 (40) (5) -

    - (1) - -

    (82) 41 (11) - (16)

    - -

    275

    (67)

    4 (36) (5) 2

    1

    (46)

    (7)

    (5)

    (75)

    8

    (1)

    (19)

    (13)

    - -

    398

    (65)

    3 (38) (5) 17

    7

    (13)

    (48)

    (3)

    27

    8 -

    (102)

    (2) - -

    659

    (16)

    4 (32) (6) (17)

    (27) -

    (16)

    (1)

    146

    (43)

    - -

    (5)

    3 -

    1,594

    (202)

    14 (146) (21)

    2

    (19)

    (60)

    (71)

    (9)

    16

    14

    (12)

    (121)

    (36)

    3 -

    (69)

    (157)

    (126)

    57

    (295)

    (165)

    (259)

    (214)

    (10)

    (648)

    $

    97

    $

    16

    $

    184

    $

    649

    $

    946

    (202)

    (146) (21)

    (19) (60) (71) (9)

    (12)(121) (36)

    (295)

    (648)

    $

    $

  • (c) For the first quarter and year ended 2021, balances include $13 million related to the termination of an aircraft lease agreement, which is included within General and administrative on our consolidated statements of income.

1st Qtr 2022

661 115 776

4

4

(40)

(6)

11

- - - -(114) (26) - - (27) 37 685 555

528

1,304

Disclaimer

Marathon Oil Corporation published this content on 04 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 May 2022 12:18:57 UTC.


© Publicnow 2022
All news about MARATHON OIL CORPORATION
06/24S&P 500 Posts 6.4% Weekly Gain, Paring June's Losses After Weeks of Declines; Consumer ..
MT
06/24Citigroup Downgrades Marathon Oil to Neutral From Buy, Adjusts Price Target to $24 From..
MT
06/22Marathon Oil Shares Hit Three-Month Low as Oil Prices Retreat
MT
06/16ENERGY SECRETARY TO MEET WITH OIL EX : Reuters
MT
06/14Oil Stocks Gain Tuesday as Crude Price Rises
MT
06/14Barclays Adjusts Marathon Oil's Price Target to $37 From $30, Reiterates Overweight Rat..
MT
06/08SECTOR UPDATE : Energy Stocks Weaken Slightly Near Wednesday Close
MT
06/08SECTOR UPDATE : Energy Stocks Rise Amid New Surge in Crude Oil Prices
MT
06/08Northern Oil & Gas Acquires Assets in Williston Basin for $170 Million, Raises Producti..
MT
06/06Morgan Stanley Raises Marathon Oil's Price Target to $33 From $30, Maintains Equalweigh..
MT
More news
Analyst Recommendations on MARATHON OIL CORPORATION
More recommendations
Financials (USD)
Sales 2022 7 741 M - -
Net income 2022 3 691 M - -
Net Debt 2022 1 975 M - -
P/E ratio 2022 4,41x
Yield 2022 1,28%
Capitalization 15 605 M 15 605 M -
EV / Sales 2022 2,27x
EV / Sales 2023 2,40x
Nbr of Employees 1 531
Free-Float 75,3%
Chart MARATHON OIL CORPORATION
Duration : Period :
Marathon Oil Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MARATHON OIL CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 22,05 $
Average target price 33,19 $
Spread / Average Target 50,5%
EPS Revisions
Managers and Directors
Lee M. Tillman Chairman, President & Chief Executive Officer
Dane E. Whitehead Chief Financial Officer & Executive Vice President
Bruce A. McCullough Chief Information Officer & Senior VP-Technology
Mike Henderson Vice President-Resource Plays North Region
Chadwick C. Deaton Independent Director
Sector and Competitors
1st jan.Capi. (M$)
MARATHON OIL CORPORATION34.29%15 605
CONOCOPHILLIPS25.95%115 369
EOG RESOURCES, INC.24.50%64 774
CNOOC LIMITED22.79%59 841
CANADIAN NATURAL RESOURCES LIMITED21.87%58 213
PIONEER NATURAL RESOURCES COMPANY22.87%54 073