Quarterly ResultApr 30, 2026, 07:37 AM
COP Q1 EPS $1.78, Adjusted EPS $1.89; Declares $0.84 Dividend
AI Summary
ConocoPhillips reported first-quarter 2026 earnings of $2.2 billion, or $1.78 per share, and adjusted earnings of $2.3 billion, or $1.89 per share, both down from the prior year. The company generated $5.4 billion in cash from operations and declared a second-quarter ordinary dividend of $0.84 per share. Total production for the quarter was 2,309 MBOED, a 1% decrease adjusted for acquisitions and dispositions. ConocoPhillips also updated its full-year production and capital guidance.
Key Highlights
- Reported 1Q26 EPS of $1.78 and adjusted EPS of $1.89.
- 1Q26 earnings were $2.2B, down from $2.8B in 1Q25.
- Declared a 2Q ordinary dividend of $0.84 per share.
- Generated $5.4B in cash from operations (CFO) in 1Q26.
- 1Q26 total production was 2,309 MBOED, a 1% decrease adjusted YoY.
- Distributed $2.0B to shareholders, including $1.0B in share repurchases.
- Updated full-year production guidance to 2.295-2.325 MMBOED.
- Updated 2026 capital spending guidance to $12-$12.5B.