COP
ConocoPhillips90.77
-3.59-3.8%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Organic pivot reaffirmed; productivity details added.
Q&A largely reaffirms prepared remarks on 2026 cost cuts and FCF inflection, but Lance firmly pivoted Conoco to organic growth post-Marathon, declaring no strategic gaps remain. Detailed nuggets surfaced: 8% YoY Delaware oil productivity per foot despite longer laterals; 7% Eagle Ford gains from diverters and integration. Alaska's four-well exploration targets Willow tiebacks; Equatorial Guinea LNG backfill advances via Chevron talks. FCF breakeven falls to low $30s by decade-end. Rig incident? No impact. Investors eye tieback execution amid maturing shale.
Key Stats
Market Cap
113.37BP/E (TTM)
12.82Basic EPS (TTM)
7.08Dividend Yield
0.03%Recent Filings
10-K
FY2025 results
ConocoPhillips delivered FY2025 production of 2,375 MBOED, up 20% y/y and 2.5% organically after M&A and dispositions, driven by Lower 48 unconventional strength at 1,484 MBOED (67% of liquids). Q4 momentum shone through new wells online across Delaware Basin, Eagle Ford, Montney, Surmont Pad 104W-A first oil, and Willow construction hitting 50% completion. Cash from operations hit $19.8B despite 19% lower realized prices ($47.01/BOE), funding $12.6B capex, $9B shareholder returns ($4B dividends, $5B buybacks), and $3.2B dispositions toward $5B target. Debt fell to $23.4B with $12.5B liquidity; 2026 capex ~$12B eyes 2.33-2.36 MMBOED output. Volatile commodity prices threaten quarterly momentum.
8-K
COP Q4 earnings down, 2026 guidance out
ConocoPhillips reported Q4 2025 adjusted earnings of $1.02 per share, down from $1.98 amid lower prices, yet full-year production hit 2,375 MBOED with 2.5% underlying growth. Marathon integration doubled synergies to over $1B run-rate. Guidance eyes $12B capex, $10.2B costs in 2026. Cash flows strong.
8-K
Q3 earnings, dividend up 8%
ConocoPhillips reported Q3 2025 adjusted earnings of $2.0B, or $1.61/share, with production hitting 2,399 MBOED and $5.4B CFO. Dividend hiked 8% to $0.84/share; 2025 output guidance raised to 2.375 MMBOED, costs cut to $10.6B. 2026 prelim: $12B capex, $10.2B costs, 0-2% growth. Lower prices stung, yet cash flow holds firm.
10-Q
Q3 FY2025 results
ConocoPhillips posted Q3 revenue of $15.0B, up 15% y/y yet down from Q2 on lower prices, with net income of $1.7B versus $2.1B y/y and diluted EPS $1.38 (reconciles to 1.25B shares). Production hit 2,399 MBOED, up 25% y/y from Marathon Oil buy (Nov 2024, $16.5B stock/cash) and new wells, while Lower 48 drove 68% of output. Cash from operations ran $15.5B YTD (flat y/y); free cash flow not disclosed in the 10-Q. Debt fell to $23.5B with $5.5B revolver available and $6.3B cash/investments. Strong distributions continue. Climate lawsuits loom.
10-Q
Q2 FY2025 results
ConocoPhillips posted Q2 revenue of $14B, up 3% y/y yet down q/q (derived), with net income at $1.97B versus $2.33B y/y as lower prices offset volume gains from the Marathon Oil acquisition closed Nov 2024 for $16.5B (mostly stock). Diluted EPS of $1.56 tracks neatly with 1.26B shares; YTD net income $4.82B aligns. Operating cash flow through H1 hit $9.6B, funding $6.7B capex while debt fell to $23.5B and $5.5B revolver stays wide open—cash at $4.9B. Lower 48 drove gains. Volatility stalks prices.
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