ConocoPhillips Tops Profit Estimates, Affirms Margin Outlook

ConocoPhillips said Thursday it had net income of $2.7 billion, or $2.17 a share, in the third quarter, up from $2.5 billion, or $2.00 a share, in the same period a year ago. The oil company said adjusted per-share earnings came to $1.29 a share, ahead of the FactSet consensus of $1.19 a share. The company did not provide a revenue figure, but said it's on track to meet its goal of 3% to 5% volume and margin growth for 2014. "We expect strong growth in 2015 driven by ongoing success in the North American unconventionals and startup of several major projects, including Surmont 2 and APLNG," Chief Executive Ryan Lance said in a statement. Shares were not yet active in premarket trade, and are up just 0.1% in the year so far, while the S&P 500 has gained 7.2%.