COP · Energy

CONOCOPHILLIPS

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: everything published this earnings window

News · 2026-11-07

• Capital Expenditure GuidanceImportance 69 · Surprise 82
  Third-party reporting says ConocoPhillips plans lower capital spending in 2027, without stating an amount. Management aims to return 45% of cash from operations to shareholders and expects free cash flow to double by…
• Quarterly Earnings and Cash FlowImportance 68 · Surprise 58
  ConocoPhillips reported Q3 2026 adjusted EPS of $3.27 and cash from operations of $7.2 billion. A separate earnings recap said reported revenue and net income were higher, but gave no amounts or comparison period. The…
• Portfolio Reshaping (M&A / Divestiture)Importance 53 · Surprise 60
  The third-party report says ConocoPhillips completed its $5 billion divestment program. It is also reviewing offers for its Norway assets, although the report provides no transaction value or timetable. The reported…

News · 2026-11-06

• Capital Return ProgramImportance 68 · Surprise 58
  In Q3 2026, ConocoPhillips repurchased $2.4 billion of shares and paid $1 billion in ordinary dividends, distributing $3.4 billion to shareholders in total. The company announced an 11% increase in its quarterly…
• Revenue Performance and MixImportance 61 · Surprise 46
  ConocoPhillips reported Q3 2026 revenue and other income of $20.06 billion, up 29.2% from $15.52 billion a year earlier and 9.1% above the $18.38 billion consensus estimate. Adjusted earnings were $3.27 per share, up…
• Capital Expenditures and Cash FlowImportance 50 · Surprise 24
  ConocoPhillips generated approximately $4 billion of free cash flow and $7.2 billion of cash from operations in Q3 2026, while capital expenditures were $3.1 billion. Management reaffirmed a target to improve free cash…
• Free Cash Flow OutlookImportance 50 · Surprise 24
  Management reaffirmed its target to improve free cash flow by $7 billion by 2029. For 2027, it expects modestly lower capital expenditures and low-single-digit underlying production growth, driven by the Lower 48. The…
• Portfolio Reshaping (M&A / Divestiture)Importance 40 · Surprise 42
  ConocoPhillips received $1.6 billion in divestment proceeds during Q3 2026. The proceeds completed its $5 billion divestment program.
• Liquidity and Cash PositionImportance 31 · Surprise 6
  ConocoPhillips reported $10.4 billion of cash and short-term investments at the end of Q3 2026, plus $1.1 billion of liquid long-term investments. Its net debt-to-cash-from-operations ratio improved to 0.5 times. The…
• Upstream Production VolumeImportance 31 · Surprise 32
  ConocoPhillips produced 2,302 thousand barrels of oil equivalent per day in Q3 2026. Production was down 4% year over year. Lower production slightly offset the benefit of higher commodity prices.

10-Q · 2026-11-05

• LNG Purchase ObligationsImportance 66 · Surprise 48
  In 2026, ConocoPhillips increased future contractual purchase obligations by approximately $9 billion. The increase related to long-term LNG offtake contracts and vessels, as well as certain other capacity obligations.…
• Net Income and ProfitabilityImportance 65 · Surprise 64
  ConocoPhillips reported third-quarter 2026 net income of $4.001 billion, compared with $1.726 billion in the third quarter of 2025; nine-month net income rose to $10.115 billion from $6.546 billion. Third-quarter basic…
• Capital Expenditure GuidanceImportance 60 · Surprise 24
  ConocoPhillips expects 2026 operating-plan capital expenditures of approximately $12 billion to $12.5 billion. During the first nine months of 2026, capital expenditures and investments totaled $9.105 billion. Spending…
• Revenue Performance and MixImportance 59 · Surprise 48
  Third-quarter 2026 sales and other operating revenues increased $4.404 billion year over year to $19.435 billion; nine-month revenue rose $8.805 billion to $54.357 billion. Higher realized prices contributed $3.178…
• Operating Cash Flow TrendsImportance 59 · Surprise 48
  Cash provided by operating activities was $18.9 billion in the first nine months of 2026, compared with $15.5 billion in the corresponding period of 2025, an increase of $3.4 billion. Higher commodity prices drove the…
• Strategic Cost ReductionImportance 58 · Surprise 42
  In the second half of 2025, ConocoPhillips announced incremental cost reductions and margin enhancements exceeding $1 billion on an anticipated run-rate basis by year-end 2026. Management said the initiatives reflect…
• Portfolio Reshaping (M&A / Divestiture)Importance 52 · Surprise 42
  In the third quarter of 2026, the company sold certain noncore Lower 48 assets for net proceeds of approximately $1.7 billion after customary adjustments; the assets had averaged about 24 MBOED of production in 2025.…
• Capital Return ProgramImportance 50 · Surprise 24
  ConocoPhillips returned $5.4 billion through share repurchases and paid $3.1 billion in ordinary dividends during the first nine months of 2026. It repurchased 45.6 million shares for $5.4 billion in that period;…
• Guidance and OutlookImportance 48 · Surprise 24
  ConocoPhillips forecast fourth-quarter 2026 production of 2.32 to 2.36 MMBOED. Full-year 2026 capital expenditures and depreciation, depletion and amortization guidance remained unchanged. The filing did not quantify…
• Asia Pacific Segment EarningsImportance 46 · Surprise 56
  Asia Pacific earnings were $528 million in Q3 2026, up from $309 million in Q3 2025, and $1.212 billion for the first nine months of 2026, up from $950 million a year earlier. Q3 earnings benefited from $92 million of…
• Net Interest Expense TrendsImportance 45 · Surprise 64
  Net interest expense was $34 million in Q3 2026, down from $152 million in Q3 2025, and $196 million for the first nine months of 2026, down from $402 million a year earlier. The decreases reflected higher interest…
• Venezuela Investment ConditionsImportance 44 · Surprise 24
  ConocoPhillips’ interests in the Petrozuata and Hamaca ventures and the offshore Corocoro project were expropriated by Venezuela in 2007. An ICSID tribunal awarded the company $8.5 billion plus interest, and an…
• Qatar Supply ConstraintsImportance 44 · Surprise 24
  ConocoPhillips has investments in Qatar LNG facilities, including one producing asset and two projects under construction. Production from its Qatar investments remained constrained through the third quarter of 2026;…
• Middle East Conflict ImpactImportance 44 · Surprise 24
  The ongoing conflict involving Iran increased volatility in global energy markets and may elevate risks to regional operations, infrastructure and shipping routes. ConocoPhillips has investments in one producing Qatar…
• Outstanding IndebtednessImportance 42 · Surprise 14
  Total debt was $23.262 billion at September 30, 2026, compared with $23.444 billion at December 31, 2025; the current portion, including future finance-lease payments, was $0.9 billion. The company had no commercial…
• Capital ExpendituresImportance 42 · Surprise 14
  Capital expenditures and investments totaled $9.105 billion in the first nine months of 2026, compared with $9.530 billion in the same 2025 period. The 2026 spending included $2.797 billion in Alaska and $4.844 billion…
• Liquidity and Cash PositionImportance 41 · Surprise 22
  At September 30, 2026, ConocoPhillips had $7.765 billion of cash and cash equivalents, $2.164 billion of short-term investments and $15.4 billion of total liquidity, including $5.5 billion of available revolving-credit…
• Acquisitions and DivestituresImportance 40 · Surprise 42
  In July 2026, ConocoPhillips agreed to acquire a direct equity holding in a non-operated joint venture supporting redevelopment of four producing oil fields in the Kirkuk area of northern Iraq. The purchase price is…
• LNG Offtake ExpansionImportance 39 · Surprise 50
  During the third quarter of 2026, ConocoPhillips entered into a commercial LNG agreement that expanded its commercial offtake portfolio from 12.2 MTPA to 13.2 MTPA. The filing describes this as an expansion of…
• Upstream Production VolumeImportance 37 · Surprise 32
  Third-quarter 2026 production was 2,302 MBOED, down 97 MBOED (4%) year over year; after adjusting for closed acquisitions and dispositions, it declined 40 MBOED (2%). Normal field decline drove decreases, partly offset…
• Income Tax Rate ChangesImportance 30 · Surprise 40
  The effective tax rate for the third quarter of 2026 was 33.1%, down from 41.0% a year earlier; the nine-month rate was 34.4%, compared with 37.1% in 2025. The company attributed the changes primarily to shifts in the…
• Operating Expense TrendsImportance 24 · Surprise 6
  Production and operating expenses declined $192 million in the third quarter and $563 million over nine months, primarily because of increased efficiencies. Purchased commodities expense increased $1.566 billion in the…

Earnings call · 2026-11-05

• Free Cash Flow OutlookImportance 85 · Surprise 64
  Third-quarter cash from operations was $7.2 billion; after $3.1 billion of capital expenditures, ConocoPhillips generated approximately $4 billion of free cash flow. Management reiterated a target of $7 billion of free…
• Capital Return ProgramImportance 74 · Surprise 58
  ConocoPhillips returned $3.4 billion to shareholders in the third quarter, including $2.4 billion of share repurchases and $1 billion of ordinary dividends. Management announced an 11% increase in the quarterly…
• Upstream Production VolumeImportance 65 · Surprise 32
  Third-quarter production was 2.302 million barrels of oil equivalent per day. Fourth-quarter production guidance is 2.32 million to 2.36 million barrels of oil equivalent per day, putting expected full-year 2026…
• Lower 48 Productivity TechnologyImportance 55 · Surprise 66
  ConocoPhillips said it achieved record third-quarter completion performance in the Lower 48, with pump hours up 15% versus 2025 and simulated footage per day improving 20%. The company is extending lateral lengths,…
• Capital Expenditure GuidanceImportance 50 · Surprise 24
  Management said 2027 capital spending is expected to be modestly lower year on year, consistent with its multiyear decline, while underlying production grows at a low-single-digit rate, driven by the Lower 48. For the…
• Willow Project DevelopmentImportance 50 · Surprise 24
  Management said Willow remains on track for first oil in early 2029 and that process-module fabrication on the Gulf Coast had exceeded 75% completion, with fabrication expected to finish in the second quarter before…
• Portfolio Reshaping (M&A / Divestiture)Importance 46 · Surprise 42
  ConocoPhillips completed its $5 billion divestment program, including $1.6 billion of proceeds in the third quarter. Management said portfolio management will continue through evaluation of assets against the company’s…
• Norway Portfolio ReviewImportance 46 · Surprise 42
  Management confirmed that ConocoPhillips received an unsolicited offer for Norway and is evaluating offers for the asset, with no decision made. It described Norway as a strong cash-generating asset that the company is…
• Permian Inventory and DevelopmentImportance 44 · Surprise 24
  ConocoPhillips said its proven primary zones remain the principal focus of Permian development, supported by what it described as the basin’s deepest Tier 1 inventory. Delaware Woodford wells brought online this year…
• Venezuela Investment ConditionsImportance 44 · Surprise 24
  ConocoPhillips continues to engage to understand opportunities in Venezuela but says investment requires a clear path to meaningful recovery of the $12 billion it is owed. Management said any potential investment would…
• LNG Offtake ExpansionImportance 44 · Surprise 24
  ConocoPhillips’ LNG offtake portfolio has reached 13 million tonnes per annum. The first volumes coming online include Port Arthur Phase 1 and a small amount from ECHA, with additional new capacity expected later this…
• Operating Expense TrendsImportance 43 · Surprise 32
  Management said structural cost reductions are fully offsetting inflation in adjusted operating costs in the higher commodity-price environment. The company expects per-unit operating costs to decline again in 2027 as…
• Middle East Conflict ImpactImportance 43 · Surprise 32
  Management said the ongoing Middle East conflict is disrupting energy and global trade flows, contributing to inflation in fuel, logistics, and chemicals; inflation in some of these categories has been double-digit,…
• Alaska Satellite ExplorationImportance 40 · Surprise 42
  ConocoPhillips said it drilled roughly four exploration wells in Alaska in the prior winter season and saw results that supported its confidence in adding resources to Willow. It plans about four more wells and…
• Qatar Production ConstraintsImportance 38 · Surprise 24
  Qatar production increased in the third quarter compared with the second quarter but remained below pre-conflict levels. Fourth-quarter production guidance incorporates a range of possible Qatar outcomes, including…
• Surmont Growth and CapacityImportance 32 · Surprise 24
  ConocoPhillips brought Surmont pad 104B online ahead of schedule and under budget, following strong production from pad 104A. Management said new Surmont pads have been brought online roughly every 12 to 18 months and…
• Liquidity and Cash PositionImportance 31 · Surprise 6
  ConocoPhillips ended the third quarter with $10.4 billion of cash and $1.1 billion of liquid long-term investments. Net debt to CFO improved to 0.5x, and management described the balance sheet as A-rated. Management…
• Oilfield Services Capacity TighteningImportance 31 · Surprise 32
  Management said increased Lower 48 activity, much of it from smaller operators, is tightening capacity in the oilfield-services sector. Super-spec rig and frac-equipment utilization was approximately 90% and 95%,…
• Middle East Expansion StrategyImportance 30 · Surprise 24
  Management said several Middle East governments are seeking capable partners and that ConocoPhillips is evaluating opportunities in the region. Any new opportunity must provide attractive fiscal terms and a competitive…
• Canada Fiscal IncentivesImportance 20 · Surprise 24
  Management said it has not yet formalized an agreement arising from the trilateral MOU involving Canada’s federal and provincial governments. The company is positive about the MOU’s proposed fiscal incentives and is…
• Inflationary Cost PressuresImportance 18 · Surprise 14
  Management said inflation in fuel, logistics, and chemicals has been double-digit in some cases, while these items remain a small component of the total cost structure. Aggregate inflation across the portfolio is…

8-K · 2026-11-05

• Revenue Performance and MixImportance 52 · Surprise 56
  ConocoPhillips’ total average realized price was $61.40 per barrel of oil equivalent in third-quarter 2026, 32% above the $46.44 per BOE realized a year earlier. The company attributed higher earnings and adjusted…
• LNG Offtake ExpansionImportance 34 · Surprise 42
  ConocoPhillips expanded its commercial LNG offtake portfolio to 13 MTPA. The release does not quantify the portfolio’s prior level or identify specific customer contracts or geographies. The disclosed volume indicates…
• Upstream Production VolumeImportance 31 · Surprise 32
  Third-quarter 2026 production was 2,302 MBOED, down 97 MBOED from the prior-year quarter. On a pro forma basis adjusting for closed acquisitions and dispositions, production was 2,295 MBOED versus 2,334 MBOED, a 2%…
• Operating Cash Flow and Free Cash FlowImportance 31 · Surprise 6
  Third-quarter net cash provided by operating activities was $7.195 billion, and cash from operations was $7.172 billion after a $23 million working-capital adjustment. Capital expenditures and investments totaled…
• Capital Expenditure ProgramImportance 31 · Surprise 6
  ConocoPhillips funded $3.1 billion of capital expenditures and investments in third-quarter 2026; the detailed reconciliation reports $3.133 billion. Full-year capital expenditure guidance remained unchanged. The…
• Liquidity and Cash PositionImportance 31 · Surprise 6
  ConocoPhillips ended third-quarter 2026 with $10.4 billion of cash and short-term investments and $1.1 billion of long-term investments. The company generated $7.195 billion of net cash from operating activities during…
• Lower 48 Productivity TechnologyImportance 30 · Surprise 40
  The Permian achieved record completion efficiency in the third quarter of 2026. Pumping hours were 15% higher than the prior-year average. The release does not provide additional details on the technology or operating…