ConocoPhillips Q2 Net Income Declines
(RTTNews) - ConocoPhillips (COP) reported second-quarter earnings of $2.0 billion, or $1.56 per share, compared with earnings of $2.3 billion, or $1.98 per share, a year ago. Excluding special items, second-quarter adjusted earnings were $1.8 billion, or $1.42 per share, compared with adjusted earnings of $2.3 billion, or $1.98 per share, last year. Analysts on average expected the company to report profit per share of $1.36, for the quarter. Analysts' estimates typically exclude special items.
Total revenues and other income was $14.74 billion compared to $14.14 billion, last year. Production for the second quarter was 2,391 MBOED, an increase of 446 MBOED from the same period a year ago. After adjusting for closed acquisitions and dispositions, production increased 72 MBOED or 3% from the same period a year ago.
The company expects third-quarter production to be 2.33 to 2.37 million barrels of oil equivalent per day. Full-year production is expected to be 2.35 to 2.37 MMBOED. The company noted that the midpoint of full-year production guidance remains unchanged, even after adjusting for announced and closed dispositions.
ConocoPhillips declared a third-quarter ordinary dividend of $0.78 per share payable Sept. 2, 2025, to stockholders of record at the close of business on Aug. 18, 2025.
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