ConocoPhillips Third-Quarter Earnings Rise to $4.0 Billion: EPS of $3.34, Quarterly Dividend Raised 11% to $0.93
Houston — ConocoPhillips, headquartered in Houston, Texas, on November 5 reported third-quarter 2026 earnings of $4.0 billion, or $3.34 per share, compared with third-quarter 2025 earnings of $1.7 billion, or $1.38 per share. Excluding special items, adjusted earnings were $3.9 billion, or $3.27 per share, compared with $2.0 billion, or $1.61 per share, a year earlier. The company said special items for the quarter primarily reflect the reversal of a tax reserve.
Total company production for the quarter was 2,302 thousand barrels of oil equivalent per day (MBOED), including 1,517 MBOED from the Lower 48, a decrease of 97 MBOED from the same period a year ago. The company's average realized price was $61.40 per BOE, 32% higher than the $46.44 per BOE realized in the third quarter of 2025; earnings increased primarily due to higher prices, partially offset by lower volumes.
Cash provided by operating activities and cash from operations (CFO) were $7.2 billion, and the company also received $1.6 billion of disposition proceeds from the sale of noncore assets. ConocoPhillips funded $3.1 billion of capital expenditures and investments and returned $3.4 billion to shareholders, consisting of $2.4 billion in share repurchases and $1.0 billion in ordinary dividends. The company ended the quarter with cash and short-term investments of $10.4 billion.
The company raised its quarterly ordinary dividend by 11% to $0.93 per share, effective with the fourth-quarter dividend, payable December 1, 2026, to stockholders of record at the close of business on November 16, 2026. It said it remains on track for its target of returning 45% of CFO in 2026.
On projects, module fabrication for the Willow development in Alaska is more than 75% complete, on track for first oil in early 2029, and the company's commercial LNG offtake portfolio has expanded to 13 MTPA. Fourth-quarter 2026 production is expected to be 2.32 to 2.36 million barrels of oil equivalent per day, and full-year capital expenditures and adjusted operating cost guidance remain unchanged.
Andy O'Brien, president and chief executive officer, said the company is continuing to execute its differential strategy with strong operational and financial performance across the portfolio, capturing efficiencies across its Lower 48 assets, growing its LNG offtake portfolio and advancing Willow critical path items, while strengthening the balance sheet and progressing toward the 45% return-of-CFO target. (Source: ConocoPhillips)
Source: ConocoPhillips
Published by GSM · USA (original Chinese edition)
Photo: 图：康菲石油位于 Houston 的公司总部大楼。Scotthydril 摄，CC BY 4.0，经 Wikimedia Commons。 / Photo: ConocoPhillips company headquarters in Houston. By Scotthydril, CC BY 4.0, via Wikimedia Commons.
