ConocoPhillips(US:COP)2026-02-05 12:43Financial Performance - Total revenues and other income for Q4 2025 reached $14,185 million, a decrease of 3.7% compared to Q4 2024's $14,737 million[2] - Net income for Q4 2025 was $1,442 million, down 37.4% from $2,306 million in Q4 2024[4] - Basic net income per share for Q4 2025 was $1.17, compared to $1.90 in Q4 2024, reflecting a decline of 38.4%[2] - Total costs and expenses for Q4 2025 were $11,940 million, an increase of 1.5% from $11,767 million in Q4 2024[2] - The company reported a total of $58,944 million in revenues for the full year 2025, up from $54,745 million in 2024, representing an increase of 7.9%[2] - The Lower 48 segment generated $835 million in earnings for Q4 2025, a significant decrease from $1,294 million in Q4 2024[4] - The company’s total equity in earnings of affiliates for Q4 2025 was $283 million, down from $440 million in Q4 2024[2] Tax and Expenses - The effective income tax rate for the consolidated entity in Q4 2025 was 35.8%, compared to 22.3% in Q4 2024[3] - Exploration expenses for Q4 2025 were $138 million, up from $71 million in Q4 2024, indicating a 94.4% increase[2] - Income tax provision for the company was $6 million in Q4 2024, with a total of $21 million for the full year[6] - Depreciation, depletion, and amortization expenses are expected to rise to $11,500 million in 2024 from $9,599 million in 2023, indicating an increase of about 19.9%[9] Assets and Liabilities - Consolidated total assets increased to $122.78 billion by Q4 2024, up from $95.35 billion in Q1 2024[8] - Total current liabilities rose to $12.12 billion in Q4 2024, compared to $10.16 billion in Q1 2024, reflecting a significant increase[8] - The company reported a total equity of $64.80 billion in Q4 2024, an increase from $49.33 billion in Q1 2024[8] - Total liabilities increased to $57.98 billion in Q4 2024, up from $46.02 billion in Q1 2024[8] - Total debt at the end of 2024 is projected to be $24.324 billion, remaining stable compared to $24.324 billion at the end of 2023[15] - The debt-to-capital ratio is expected to remain at 27% throughout 2024, consistent with previous quarters[15] Cash Flow and Investments - Cash flows from operating activities for 2024 are estimated at $19,796 million, compared to $20,124 million in 2023, reflecting a decline of approximately 1.6%[9] - The company reported a net cash used in investing activities of $8,836 million for 2024, which is a decrease from $11,150 million in 2023, showing an improvement of about 20.9%[9] - Cash, cash equivalents, and restricted cash at the end of 2024 are projected to be $6,916 million, up from $5,905 million at the end of 2023, representing an increase of approximately 17.1%[9] - The company anticipates a net cash used in financing activities of $10,102 million for 2024, compared to $8,835 million in 2023, reflecting an increase of approximately 14.3%[9] Production and Forecast - Total production for 2024 is projected to be 2,375 MBOED, with a quarterly breakdown of 2,389 in Q1, 2,391 in Q2, and 2,399 in Q3[10] - Crude oil production from consolidated operations is expected to average 1,133 MBD in 2025, with a peak of 1,153 MBD in Q1 2024[10] - Natural gas production is forecasted to reach 4,070 MMCFD in Q1 2025, with a total of 4,065 MMCFD for the full year[10] - Average realized prices for crude oil are anticipated to be $65.62 per BBL in 2025, down from $76.74 per BBL in 2024[10] - The company expects to incur impairments totaling $26 million in 2024, a decrease from $80 million in 2023, indicating a reduction of approximately 67.5%[9] Strategic Plans - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[1] - The company plans to maintain a focus on market expansion and new technology development to enhance production efficiency[12] - The company plans to invest in new technologies, with technology expenses amounting to $137 million in 2024, down from $144 million in 2023[14]