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Earnings Data
Report Date
Aug 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.94Last Year’s EPS
1.42Same Quarter Last Year
Moderate Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights strong financial and operational performance: meaningful free cash flow ($2.4B), substantial shareholder returns ($2.0B returned in Q1), solid liquidity, Lower 48 production growth (+4% YoY), progress on major projects (Willow 50% complete, Port Arthur on track), and tangible cost savings (guidance down $400M vs 2025 and a $1B run-rate target). Offsetting these positives are significant macro and geopolitical headwinds driven by the Middle East conflict (supply curtailments, Qatar disruption, and LNG tightness), modest near-term guidance impacts (Qatar exclusion ~20k boe/d and Surmont royalty ~15k boe/d), and a small increase in 2026 capex to preserve Permian efficiency. Overall, the company presents strong execution and financial positioning while appropriately communicating and planning around elevated geopolitical and market uncertainty.Company Guidance
Strong Free Cash Flow and Shareholder Returns
Generated $2.4 billion of free cash flow in Q1 and returned $2.0 billion to shareholders ( $1.0B ordinary dividend + $1.0B share repurchases). First-quarter CFO was $5.4 billion and management remains committed to returning ~45% of CFO to shareholders.
Robust Production and Lower 48 Growth
Q1 production of 2.309 million barrels of oil equivalent per day (boe/d); Lower 48 production of 1.453 million boe/d, representing ~4% year-over-year underlying growth.
Solid Earnings, Liquidity and Capital Discipline
Adjusted earnings of $1.89 per share in Q1; quarter capex of $2.9 billion. Ended quarter with $6.7 billion cash and short-term investments plus $1.2 billion in liquid long-term investments. 2026 capex guidance updated to $12.0–$12.5 billion (≈2% increase at midpoint, ~+$250M) to modestly add Permian activity.
OpEx Reductions and Operational Efficiency
Full-year operating cost guidance of $10.2 billion, reflecting a $400 million reduction versus 2025. Company reiterated confidence in achieving a $1.0 billion run-rate saving by year-end. D&C operational efficiencies improved ~15% exiting 2025.
Willow Project Progress and Alaska Exploration
Willow project reported ~50% complete; gravel scope and bridges finished, summer mobilization underway, early oil expected in 2029. Completed a four-well Alaska exploration program (first in multi-year plan), found hydrocarbons and shot seismic and gravel exploration to support future pads.
LNG Commercial and Project Milestones
Executed a third-party tolling agreement at Equatorial Guinea LNG extending the facility's life into the next decade. Port Arthur LNG progressing with first LNG expected in 2027; company has already placed ~10 mtpa and the first 5 mtpa predominantly into Europe/Asia, improving commercial positioning amid tighter markets.
Lower 48 Inventory and Permian Execution
Maintaining peer-leading Lower 48 capital efficiency with increased three-mile-plus laterals; added a rig in the Delaware to preserve steady-state operations and avoid frac gaps, supporting continuity into 2027.
Progress on Divestitures
Announced $5 billion divestiture program with ~$3 billion already completed, continuing portfolio cleanup and non-core monetization.
COP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
COP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2026 | $127.30 | $124.85 | -1.93% |
Feb 05, 2026 | $105.97 | $103.40 | -2.43% |
Nov 06, 2025 | $85.59 | $83.59 | -2.33% |
Aug 08, 2025 | $89.63 | $90.90 | +1.41% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Conocophillips (COP) report earnings?
Conocophillips (COP) is schdueled to report earning on Aug 06, 2026, Before Open (Confirmed).
What is Conocophillips (COP) earnings time?
Conocophillips (COP) earnings time is at Aug 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is COP EPS forecast?
COP EPS forecast for the fiscal quarter 2026 (Q2) is 2.94.
