Quarterly ResultAug 6, 2026, 07:27 AM
ConocoPhillips Q2 EPS $3.23, Adjusted EPS $3.24; Declares $0.84 Dividend
AI Summary
ConocoPhillips announced strong second-quarter 2026 results, with earnings per share of $3.23 and adjusted earnings per share of $3.24. The company generated $7.2 billion in cash from operations and returned $3.0 billion to shareholders through repurchases and dividends, including a declared third-quarter dividend of $0.84 per share. Strategic achievements include exceeding its $5 billion asset disposition target, signing an agreement for a 42% interest in a Kirkuk joint venture, and expanding its LNG offtake to 12 MTPA, while reaffirming full-year guidance.
Key Highlights
- Reported second-quarter 2026 earnings per share of $3.23 and adjusted earnings per share of $3.24.
- Generated $7.2 billion in cash from operations (CFO) for the second quarter.
- Increased total shareholder distributions to $3.0 billion, including $2.0 billion through share repurchases.
- Declared a third-quarter ordinary dividend of $0.84 per share, payable September 1, 2026.
- Achieved $5 billion asset disposition target ahead of schedule with $1.7 billion in noncore Lower 48 asset sales.
- Signed an agreement to acquire a 42% interest in a joint venture in the Kirkuk area of northern Iraq.
- Advanced commercial LNG strategy with additional 2 million tonnes per annum (MTPA) of offtake agreements, totaling 12 MTPA.
- Reaffirmed all full-year guidance items, with Q3 2026 production expected at 2.29 to 2.32 MBOED.
Price Impact
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