ConocoPhillips Q1 2022 Earnings Report
Key Takeaways
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.
Increased expected 2022 returns of capital to shareholders to a total of $10 billion.
Distributed $2.3 billion to shareholders through a three-tier return of capital framework.
Generated cash provided by operating activities of $5.1 billion and cash from operations (CFO) of $7.0 billion.
Delivered record production of 1,747 MBOED in the quarter.
ConocoPhillips
ConocoPhillips
Forward Guidance
Second-quarter 2022 production is expected to be 1.67 to 1.73 million barrels of oil equivalent per day (MMBOED). The company adjusted its 2022 operating capital guidance to $7.8 billion versus the prior guidance of $7.2 billion.