COP
ConocoPhillips90.77
-3.59-3.8%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Willow inflation detailed, timeline intact
Q&A drilled into Willow's $1.5-1.5B capex hike, pinning 80% on post-FID inflation and North Slope overlaps, with Kirk expressing high confidence in the $8.5-9B range thanks to 90%+ locked contracts and no scope slips. Schedule holds firm to early 2029. Management defended project returns as portfolio-competitive despite higher F&D, citing Alaska's Brent premium and future satellites. Lower 48 nuggets included steady-state 24 rigs driving efficiencies and flat oil mix at 50%; Surmont debottlenecking emerged as low-capex upside. OpEx cuts traced to 75% Marathon synergies achieved. LNG talk clarified commercial strategy hedging L48 gas at 10 MTPA toward 10-15 ambition. Tone stayed bullish on FCF trajectory; investors will eye Willow execution.
Key Stats
Market Cap
113.37BP/E (TTM)
12.82Basic EPS (TTM)
7.08Dividend Yield
0.03%Recent Filings
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.
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
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.
8-K
Q2 earnings down, integration done
ConocoPhillips reported Q2 2025 earnings of $1.56 per share, down from $1.98 year-ago, with production steady at 2,391 MBOED but prices dropping 19% to $45.77/BOE. Marathon Oil integration wrapped, on track for >$1B synergies by year-end; signed $1.3B Anadarko Basin sale, closing Q4. Cash from operations hit $4.7B. Targets $5B dispositions by 2026.
8-K
Elects McGinty to board
ConocoPhillips expanded its board from 12 to 13 members, electing Kathleen McGinty on July 1, 2025. She joins the Audit and Finance and Public Policy and Sustainability Committees, bringing 30+ years in sustainability from Johnson Controls and government roles. CEO Lance values her private-sector and policy perspective. Board now has 11 independent directors.
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