ConocoPhillips Earnings Reports

In Q3 2025, ConocoPhillips delivered $15.03 billion in revenue and $1.7 billion in net income. While earnings declined year-over-year, the company boosted shareholder returns and announced favorable 2026 guidance.

ConocoPhillips delivered $14.74B in revenue and $1.97B in net income during Q2 2025, supported by strong asset sales and cost discipline across operations.

ConocoPhillips delivered a solid financial performance in Q1 2025, driven by higher production volumes despite lower realized prices. The company returned $2.5 billion to shareholders and achieved cost efficiency improvements.

ConocoPhillips reported Q4 2024 earnings of $2.3 billion, or $1.90 per share, compared to $3.0 billion, or $2.52 per share in Q4 2023. Adjusted earnings were $2.4 billion, or $1.98 per share, compared to $2.9 billion, or $2.40 per share in the prior year. Production for the fourth quarter of 2024 was 2,183 MBOED, an increase of 281 MBOED from the same period a year ago.

ConocoPhillips reported Q3 2024 earnings of $2.1 billion, or $1.76 per share, and adjusted earnings of $2.1 billion, or $1.78 per share. The company generated $5.8 billion in cash provided by operating activities and $4.7 billion in cash from operations. ConocoPhillips also raised its ordinary dividend by 34% to $0.78 per share and increased its share repurchase authorization by up to $20 billion.

ConocoPhillips reported Q2 2024 earnings of $2.3 billion, or $1.98 per share, compared to $2.2 billion, or $1.84 per share in Q2 2023. The company achieved record production and advanced its global LNG strategy.

ConocoPhillips reported first-quarter 2024 earnings of $2.6 billion, or $2.15 per share, compared to $2.9 billion, or $2.38 per share, in the first quarter of 2023. Adjusted earnings were $2.4 billion, or $2.03 per share. The company delivered total production of 1,902 MBOED and generated $5.0 billion in cash from operating activities.

ConocoPhillips reported fourth-quarter 2023 earnings of $3.0 billion, or $2.52 per share. Production for the fourth quarter of 2023 was 1,902 MBOED, an increase of 144 MBOED from the same period a year ago. The company’s total average realized price was $58.21 per BOE, 18% lower than the $71.05 per BOE realized in the fourth quarter of 2022.

ConocoPhillips reported third-quarter earnings of $2.8 billion, or $2.32 per share. Adjusted earnings were $2.6 billion, or $2.16 per share. Production reached a record 1,806 MBOED. The company increased its quarterly ordinary dividend by 14% to $0.58 per share.

ConocoPhillips reported second-quarter 2023 earnings of $2.2 billion, or $1.84 per share. The company achieved record production and increased its full-year production guidance. A deal to purchase the remaining 50% interest in Surmont was executed and progress was made on the global LNG strategy. The full-year distribution target of $11 billion remains unchanged.

ConocoPhillips reported first-quarter earnings of $2.9 billion, or $2.38 per share. The company achieved record production and advanced its joint venture at Port Arthur LNG.

ConocoPhillips reported Q4 2022 earnings of $3.2 billion, or $2.61 per share, compared to $2.6 billion, or $1.98 per share in Q4 2021. Adjusted earnings were $3.4 billion, or $2.71 per share, compared to $3.0 billion, or $2.27 per share in the same period last year. Production for the fourth quarter of 2022 was 1,758 MBOED.

ConocoPhillips reported Q3 2022 earnings of $4.5 billion, or $3.55 per share, compared to Q3 2021 earnings of $2.4 billion, or $1.78 per share. Adjusted earnings were $4.6 billion, or $3.60 per share. The company distributed $4.3 billion to shareholders and achieved a record Lower 48 production of over 1 million barrels of oil equivalent per day.

ConocoPhillips reported second-quarter 2022 earnings of $5.1 billion, or $3.96 per share, compared with second-quarter 2021 earnings of $2.1 billion, or $1.55 per share. Excluding special items, second-quarter 2022 adjusted earnings were $5.1 billion, or $3.91 per share, compared with second-quarter 2021 adjusted earnings of $1.7 billion, or $1.27 per share.

ConocoPhillips reported first-quarter 2022 earnings of $5.8 billion, or $4.39 per share, compared with first-quarter 2021 earnings of $1.0 billion, or $0.75 per share. Excluding special items, first-quarter 2022 adjusted earnings were $4.3 billion, or $3.27 per share.

ConocoPhillips reported fourth-quarter 2021 earnings of $2.6 billion, or $1.98 per share, compared to a loss in the same quarter of the previous year. Adjusted earnings were $3.0 billion, or $2.27 per share. The company also announced an increase in the expected 2022 return of capital to shareholders.

ConocoPhillips reported Q3 2021 earnings of $2.4 billion, or $1.78 per share, compared to a loss of $0.5 billion, or ($0.42) per share in Q3 2020. Adjusted earnings were $2.4 billion, or $1.77 per share, compared to an adjusted loss of $0.3 billion, or ($0.31) per share in the same period last year. Production excluding Libya was 1,507 MBOED.

ConocoPhillips reported strong second-quarter earnings of $2.1 billion, with adjusted earnings of $1.7 billion. The company generated $4.3 billion in cash from operating activities and produced 1,547 MBOED excluding Libya. Their performance follows a market update where they laid out a compelling 10-year plan.

ConocoPhillips reported first-quarter 2021 earnings of $1.0 billion, or $0.75 per share, compared with a first-quarter 2020 loss of $1.7 billion, or ($1.60) per share. Excluding special items, first-quarter 2021 adjusted earnings were $0.9 billion, or $0.69 per share, compared with first-quarter 2020 adjusted earnings of $0.5 billion, or $0.45 per share.

ConocoPhillips reported a net loss of $0.8 billion, or ($0.72) per share, in Q4 2020, compared to earnings of $0.7 billion, or $0.65 per share, in Q4 2019. Adjusted loss was $0.2 billion, or ($0.19) per share, versus adjusted earnings of $0.8 billion, or $0.76 per share, in the prior year. The results were affected by lower realized prices and reduced production volumes, but the company emphasized its commitment to free cash flow and value creation.

ConocoPhillips reported a net loss of $0.5 billion, or ($0.42) per share, in the third quarter of 2020, compared to earnings of $3.1 billion, or $2.74 per share, in the third quarter of 2019. Adjusted earnings were a loss of $0.3 billion, or ($0.31) per share, compared to adjusted earnings of $0.9 billion, or $0.82 per share, in the third quarter of 2019. Production excluding Libya was 1,066 MBOED.

ConocoPhillips reported second-quarter 2020 earnings of $0.3 billion, or $0.24 per share. Adjusted earnings were a loss of $1.0 billion, or ($0.92) per share. Production excluding Libya was 981 MBOED after curtailments of approximately 225 MBOED.

ConocoPhillips reported a first-quarter 2020 loss of $1.7 billion, or ($1.60) per share, compared with first-quarter 2019 earnings of $1.8 billion, or $1.60 per share. Excluding special items, first-quarter 2020 adjusted earnings were $0.5 billion, or $0.45 per share, compared with first-quarter 2019 adjusted earnings of $1.1 billion, or $1.00 per share.

ConocoPhillips reported Q4 2019 earnings of $0.7 billion, or $0.65 per share, compared to $1.9 billion, or $1.61 per share in Q4 2018. Adjusted earnings were $0.8 billion, or $0.76 per share, compared to $1.3 billion, or $1.13 per share in the prior year. The decrease was attributed to the absence of a gain on sale, a non-cash impairment, lower realized prices, and reduced volumes from dispositions.