COP Q1 Revenue $15.76B, -4.6%; Net Income $2.18B, -23.4%; EPS $1.78
ConocoPhillips reported Q1 2026 revenues of $15.76 billion, a 4.6% decrease from the prior year, with net income falling 23.4% to $2.18 billion and diluted EPS at $1.78. Net cash provided by operating activities also decreased significantly to $4.30 billion. The company continued its capital allocation with $1.01 billion in share repurchases and $1.03 billion in dividends paid. Legal proceedings, including ongoing collection efforts for an $8.5 billion arbitration award against Venezuela, and climate change lawsuits, remain significant contingencies.
Key Highlights
- Q1 2026 Sales and other operating revenues: $15.76 billion, down 4.6% from $16.52 billion in Q1 2025.
- Q1 2026 Net income: $2.18 billion, down 23.4% from $2.85 billion in Q1 2025.
- Q1 2026 Diluted EPS: $1.78, down from $2.23 in Q1 2025.
- Net cash provided by operating activities: $4.30 billion in Q1 2026, down from $6.12 billion in Q1 2025.
- Repurchased $1.01 billion of common stock in Q1 2026.
- Paid $1.03 billion in dividends in Q1 2026.
- Debt balance at March 31, 2026, was $23.3 billion, down from $23.4 billion at Dec 31, 2025.
- Received $795 million related to the $8.5 billion arbitration award against Venezuela as of March 31, 2026.
Price Impact
More from COP
ConocoPhillips Names Andy O'Brien CEO; Ryan Lance to Executive Chair
ConocoPhillips Q2 Net Income $3.93B, EPS $3.23; Sells Assets for $1.7B
ConocoPhillips Q2 EPS $3.23, Adjusted EPS $3.24; Declares $0.84 Dividend