Market Overview - U.S. stocks experienced a decline, with the Dow Jones index falling over 450 points, down 0.98% to 46,848.97, NASDAQ down 1.82% to 23,073.21, and S&P 500 down 1.13% to 6,719.65 [1] - Energy shares increased by 0.9%, while consumer discretionary stocks fell by 2.4% [1] Company Earnings - ConocoPhillips reported third-quarter FY25 earnings of $1.7 billion, or $1.38 per share, down from $2.1 billion, or $1.76 per share, year-over-year. Adjusted EPS was $1.61, exceeding the consensus estimate of $1.44. The company also raised its fourth-quarter regular dividend by 8% to $0.84 per share [2] Commodities - Oil prices decreased by 1.1% to $58.96, gold fell by 0.4% to $3,977.70, silver dropped 1.2% to $47.450, and copper declined by 0.6% to $4.9580 [5] European Markets - European shares were lower, with the eurozone's STOXX 600 down 0.70%, while Spain's IBEX 35 Index rose 0.12%. Other indices like London's FTSE 100, Germany's DAX 40, and France's CAC 40 saw declines of 0.42%, 1.31%, and 1.36% respectively [6] Asian Markets - Asian markets closed mostly higher, with Japan's Nikkei 225 up 1.34%, Hong Kong's Hang Seng gaining 2.12%, and China's Shanghai Composite increasing by 0.97%. India's BSE Sensex fell by 0.18% [7] Notable Stock Movements - Golden Entertainment, Inc. shares surged 35% to $28.69 following an acquisition announcement at $30/share. Forge Global Holdings, Inc. shares rose 68% to $44.00 after an acquisition agreement with Charles Schwab. Stagwell Inc. shares increased by 20% to $5.75 after better-than-expected financial results [8] - Conversely, American Superconductor Corporation shares dropped 36% to $38.01 despite beating earnings estimates but missing revenue expectations. ACV Auctions Inc. shares fell 38% to $5.03 after cutting full-year sales guidance, and Aspen Aerogels, Inc. shares decreased by 44% to $4.1850 after lowering earnings and sales guidance [8] Employment Data - U.S.-based employers announced 153,074 job cuts in October, a significant increase from 54,064 in the previous month [10]

Financial Performance - ConocoPhillips reported adjusted earnings of $2.1 billion, resulting in an adjusted EPS of $1.78 [4] - The company generated $4.7 billion in cash from operations (CFO) and $1.8 billion in free cash flow (FCF), ending with a cash balance of $7.1 billion [4] - Share repurchases amounted to $1.2 billion, and $0.9 billion was returned to shareholders through ordinary dividends and VROC [4] - The average realized price was $54.18 per barrel of oil equivalent (BOE) [9] - Total adjusted earnings decreased from $2.601 billion in 3Q23 to $2.081 billion in 3Q24 [8] Operational Highlights - Total company production reached 1,917 MBOED (thousand barrels of oil equivalent per day) [5] - Record Lower 48 production was achieved at 1,147 MBOED [5] Strategic Decisions - The ordinary dividend was raised by 34%, and share repurchase authorization increased by up to $20 billion [4] - An agreement was signed to purchase additional working interests in Alaska [4] - Progress was made on the Marathon Oil acquisition, with an expected close in 4Q [4] Guidance - Full-year production is guided at 1.94 - 1.95 MMBOED (million barrels of oil equivalent per day) [21] - Fourth-quarter production is expected to be 1.99 - 2.03 MMBOED [21] - Full-year adjusted operating costs are projected to be $9.2B - $9.3B [21]

Core Viewpoint - ConocoPhillips reported better-than-expected earnings for Q3 and raised its quarterly dividend by 8% [1][4] Financial Performance - Adjusted earnings for Q3 were $2 billion, or $1.61 per share, surpassing the analyst consensus estimate of $1.41 per share [1] - Total production was 2.399 million barrels of oil equivalent per day (boed), with Lower 48 production averaging 1.528 million boed, reflecting a 4% increase in oil and gas production compared to the same period last year [2] Price Realization - The average realized price was $46.44 per barrel of oil equivalent (boe), a 14% decrease from $54.18 per boe in Q3 2024 [3] - The decline in prices was partially offset by the benefits from the Marathon Oil acquisition and higher underlying production volumes [3] Dividend and Future Guidance - The company increased its base dividend by 8%, aligning with its goal for top quartile dividend growth in the S&P 500 [4] - Looking ahead to 2026, the company expects lower capital and operating costs with flat to modest production growth [5]

Core Insights - ConocoPhillips reported adjusted earnings of $1.61 per share in the third quarter, surpassing the consensus estimate of $1.41 per share [1] Financial Performance - The company's earnings exceeded market expectations, indicating strong financial performance in the third quarter [1]

Core Insights - ConocoPhillips reported Q3 earnings per share of $1.61, exceeding analysts' average expectation of $1.43, but down from $1.78 in the same period last year [1] - The company's production reached 2.4 million barrels of oil equivalent per day (boepd), an increase of 482,000 boepd compared to the same period last year [1] - ConocoPhillips raised its quarterly dividend by 8% to $0.84 per share [1]

Core Viewpoint - ConocoPhillips reported quarterly earnings of $1.61 per share, exceeding the Zacks Consensus Estimate of $1.4 per share, but down from $1.78 per share a year ago, indicating an earnings surprise of +15.00% [1][2] Financial Performance - The company achieved revenues of $15.52 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 6.02% and up from $13.6 billion year-over-year [2] - Over the last four quarters, ConocoPhillips has consistently surpassed consensus EPS estimates four times and revenue estimates three times [2] Stock Performance - ConocoPhillips shares have declined approximately 11.6% since the beginning of the year, contrasting with the S&P 500's gain of 15.6% [3] - The current Zacks Rank for ConocoPhillips is 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $1.27 on revenues of $14.24 billion, and for the current fiscal year, it is $6.25 on revenues of $60.33 billion [7] - The outlook for the Oil and Gas - Integrated - United States industry is currently in the bottom 21% of Zacks industries, which may impact stock performance [8]

Production and Operations - ConocoPhillips reported third-quarter 2025 production of 2,399 MBOED, an increase of 482 MBOED or 25% from the same period a year ago[151]. - Total production for the nine-month period of 2025 was 2,393 MBOED, an increase of 472 MBOED or 25% from the same period a year ago[170]. - Third-quarter 2025 production increased by 83 MBOED or 4% year-over-year, while nine-month production also rose by 92 MBOED or 4%[171]. - Average production in the Lower 48 increased by 381 MBOED in Q3 2025 and 402 MBOED in the nine-month period compared to the same periods in 2024[192]. - Average consolidated production increased by 56 MBOED and 46 MBOED in the three- and nine-month periods of 2025, respectively, due to assets acquired from Marathon Oil and new wells online in Norway and Libya[208]. - Average production increased by 40 MBOED and 24 MBOED in the three- and nine-month periods of 2025, respectively, due to new wells online and absence of prior-year planned turnaround activity[202]. Financial Performance - The company generated $5.9 billion in cash provided by operating activities in the third quarter of 2025[152]. - Sales and other operating revenues for Q3 2025 reached $15,031 million, up $1,990 million (15%) from Q3 2024; for the nine-month period, revenues increased to $45,552 million, up $5,043 million (12.5%) from the previous year[174]. - Net income for Q3 2025 was $1,726 million, down from $2,059 million in Q3 2024; for the nine-month period, net income was $6,546 million, compared to $6,939 million in the same period last year[179]. - Revenues and other income for the nine months ended September 30, 2025, were $29.29 billion, with a net income of $6.55 billion[248]. Dividends and Share Repurchases - ConocoPhillips raised its ordinary dividend by 8% to $0.84 per share in November 2025[151]. - The company paid ordinary dividends of $2.34 per share in the first nine months of 2025, compared to $1.74 per share in the same period of 2024, representing a 34.5% increase[240]. - The company repurchased 42.2 million shares for a cost of $4.0 billion in the nine months ended September 30, 2025, totaling 474.8 million shares and $38.3 billion since the program's inception[241]. Capital Expenditures and Investments - Capital expenditures and investments for the first nine months of 2025 were $9.5 billion, with expected operating plan capital expenditures for 2025 between $12.3 billion and $12.6 billion[227]. - The company anticipates capital expenditures for 2025 to be between $12.3 billion and $12.6 billion, compared to $12.1 billion in 2024[244]. - Capital expenditures and investments for the first nine months of 2025 totaled $9.53 billion, compared to $8.80 billion in the same period of 2024, reflecting a 8.3% increase[243]. Asset Management - The company completed over $3 billion in asset dispositions in 2025 and is on track to meet its $5 billion target by year-end 2026[148]. - The company completed divestitures totaling approximately $2.6 billion, including the recent $1.3 billion sale of Anadarko Basin assets[194]. - Proceeds from asset sales were $1.6 billion in the first nine months of 2025, compared to $0.2 billion for the same period in 2024[229]. Liquidity and Debt - The company ended the third quarter of 2025 with cash, cash equivalents, restricted cash, and short-term investments totaling $6.6 billion[152]. - Total liquidity at September 30, 2025, was $11.8 billion, comprised of cash and cash equivalents of $5.3 billion, short-term investments of $1.0 billion, and available borrowing capacity of $5.5 billion[222]. - As of September 30, 2025, the company's debt balance was $23.5 billion, down from $24.3 billion at December 31, 2024[234]. - The company refinanced its revolving credit facility, maintaining a total principal amount of $5.5 billion, with an expiration extended to February 2030[233]. Segment Performance - The Lower 48 segment reported net income of $1,240 million in Q3 2025, slightly down from $1,241 million in Q3 2024; for the nine-month period, net income increased to $4,429 million from $3,881 million[189]. - Canada segment earnings rose to $188 million in Q3 2025 from $25 million in Q3 2024, and for the nine-month period, earnings increased to $593 million from $466 million[199]. - Europe, Middle East and North Africa segment reported sales and other operating revenues of $1,578 million and $4,918 million for the three- and nine-month periods of 2025, respectively, compared to $1,337 million and $4,090 million in 2024[203]. - Net income for the Europe, Middle East and North Africa segment was $327 million and $983 million for the three- and nine-month periods of 2025, respectively, up from $298 million and $853 million in 2024[205]. - Asia Pacific segment reported sales and other operating revenues of $515 million and $1,410 million for the three- and nine-month periods of 2025, respectively, compared to $478 million and $1,495 million in 2024[209]. - Net income for the Asia Pacific segment was $309 million and $950 million for the three- and nine-month periods of 2025, respectively, down from $455 million and $1,411 million in 2024[211]. Market Conditions and Risks - The average realized price for total production was $46.44 per BOE, a decrease of 14% compared to $54.18 per BOE in the third quarter of 2024[160]. - The average Brent crude oil price was $69.07 per barrel in the third quarter of 2025, a decrease of 14% from $80.18 per barrel in the same quarter of 2024[157]. - The company cautions that forward-looking statements are based on current expectations and may not guarantee future performance due to various risks and uncertainties[260]. - Potential impacts from volatile commodity prices could adversely affect operating results and lead to impairment charges on long-lived assets[260]. - The company faces risks related to global demand and supply changes in oil and gas, influenced by geopolitical events and health crises[260]. - There are concerns about liquidity that could impact the company's ability to repurchase shares and pay dividends[261]. - The company highlights risks associated with achieving expected reserve or production levels due to operational hazards and drilling risks[261]. - Legislative and regulatory changes addressing environmental concerns may impose significant operational or investment changes[261]. - The company acknowledges competition and consolidation in the oil and gas E&P industry, affecting access to supply and services[261]. - Challenges related to the acquisition of Marathon Oil may disrupt operations and hinder realization of anticipated cost savings[261]. - The company emphasizes the importance of reliable transportation for crude oil and natural gas, with potential disruptions posing risks[261]. - Market risks for the nine months ended September 30, 2025, remain consistent with previous disclosures in the 2024 Annual Report[262].

Financial Performance - Total revenues and other income for Q3 2025 reached $15,522 million, a 14% increase compared to Q3 2024[2] - Net income for Q3 2025 was $1,726 million, down 16% from $2,059 million in Q3 2024[4] - Basic earnings per share for Q3 2025 was $1.38, a decrease of 22% from $1.77 in Q3 2024[2] - The company reported a total of $12,594 million in costs and expenses for Q3 2025, reflecting a 21% increase from Q3 2024[2] - Adjusted earnings for Q3 2025 were $2,007 million, compared to $2,081 million in Q3 2024, indicating a decline of 4%[4] - The company’s total equity in earnings of affiliates for Q3 2025 was $345 million, a decrease of 22% from $441 million in Q3 2024[2] Taxation - The effective income tax rate for Q3 2025 was 41.0%, up from 36.4% in Q3 2024[3] - Adjusted effective income tax rate for the consolidated entity was 37.6% year-to-date in 2025, up from 35.5% in 2024[5] - The income tax provision for the total company was $67 million year-to-date in 2025[6] Assets and Liabilities - Total assets increased to $124.254 billion in Q1 2025, compared to $122.780 billion in Q4 2024[7] - Cash and cash equivalents stood at $6.309 billion in Q1 2025, a rise from $5.607 billion in Q4 2024[7] - Total current liabilities rose to $13.329 billion in Q1 2025, up from $12.124 billion in Q4 2024[7] - Total equity reached $65.238 billion in Q1 2025, compared to $64.796 billion in Q4 2024[7] Special Items and Expenses - The company reported a total of $226 million in special items for the year-to-date in 2025, with significant gains from asset sales[6] - The company incurred transaction, integration, and restructuring expenses totaling $499 million in 2024[6] Production and Exploration - Total production for 2024 is projected at 2,393 MBOED, with a significant increase from 1,987 MBOED in 2023[9] - Crude oil production from consolidated operations increased to 1,153 MBD in Q1 2025, up from 1,058 MBD in Q4 2024[9] - Natural gas production reached 4,081 MMCFD year-to-date in 2025, compared to 3,433 MMCFD in 2024[9] - Total exploration expenses for 2024 amounted to $355 million, with a breakdown of $158 million for U.S. exploration and $197 million for international exploration[10] Cash Flow and Capital Expenditures - Net cash provided by operating activities for the full year 2024 is $20,124 million, with Q4 contributing $4,457 million[8] - Cash flows from investing activities show a net cash used of $11,150 million for the full year 2024, with Q4 at $2,200 million[8] - The company reported a net cash used in financing activities of $8,835 million for the full year 2024, with Q4 at $1,769 million[8] - Capital expenditures in Alaska for Q4 2024 are $1,092 million, contributing to a total of $3,194 million for the full year[8] Debt and Equity - Total debt at the end of 2024 was $24.324 billion, with a debt-to-capital ratio of 27%[13] - Equity at the end of 2024 was $64.796 billion, showing a slight increase from $49.325 billion at the beginning of the year[13] Average Realized Prices - Average realized prices for crude oil decreased to $67.34 per BOE in 2025, down from $76.74 per BOE in 2024[9] - The average price of WTI crude oil was $66.70 per barrel year-to-date in 2025, reflecting a decline from $75.72 per barrel in 2024[9] - The average realized price for natural gas was $4.69 per MCF year-to-date in 2025, compared to $2.27 per MCF in 2024[9] - The average realized price for crude oil in Alaska was $81.73 per barrel for the full year 2024, while the total consolidated operations averaged $76.74 per barrel[12]

Core Insights - ConocoPhillips exceeded Wall Street profit estimates for the third quarter, driven by increased oil and gas production alongside effective cost-cutting measures, which mitigated the impact of declining commodity prices [1] Company Performance - The company reported higher production levels in oil and gas, contributing positively to its financial results [1] - Cost-cutting initiatives played a significant role in offsetting the adverse effects of lower commodity prices [1] Market Context - The performance of ConocoPhillips reflects broader trends in the oil and gas industry, where companies are focusing on operational efficiency to navigate fluctuating commodity prices [1]

ConocoPhillips (NYSE:COP) will release earnings results for the third quarter before the opening bell on Thursday, Nov. 6.Analysts expect the Houston, Texas-based company to report quarterly earnings at $1.41 per share, down from $1.78 per share in the year-ago period. The consensus estimate for ConocoPhillips' quarterly revenue is $14.63 billion, compared to $13.6 billion a year earlier, according to Benzinga Pro.On Aug. 7, ConocoPhillips reported better-than-expected earnings for the second quarter.Shares ...