Quarterly ResultAug 6, 2026, 07:42 AM
ConocoPhillips Q2 Net Income $3.93B, EPS $3.23; Sells Assets for $1.7B
AI Summary
ConocoPhillips reported strong financial results for Q2 2026, with net income significantly increasing to $3.93 billion and diluted EPS rising to $3.23. The company also announced the sale of noncore assets for approximately $1.7 billion and an agreement to acquire a 42% interest in Kirkuk oil fields for $0.4 billion. Additionally, the company continues collection efforts on an $8.5 billion arbitration award against Venezuela, having received $795 million to date.
Key Highlights
- Q2 2026 net income increased to $3.93 billion from $1.97 billion in Q2 2025.
- Q2 2026 diluted EPS rose to $3.23 from $1.56 in Q2 2025.
- Sales and other operating revenues for Q2 2026 were $19.16 billion, up from $14.00 billion.
- Entered agreements to sell noncore assets for approximately $1.7 billion.
- Agreed to acquire a 42% interest in Kirkuk oil fields for $0.4 billion.
- Received approximately $795 million in connection with the first ICC arbitration award against Venezuela.
- Repurchased $3.01 billion of common stock in the first six months of 2026.
- Retired $67 million principal amount of 6.875% Notes at maturity.
Price Impact
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