ConocoPhillips(US:COP)2025-11-06 12:11Financial 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]