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ConocoPhillips Q2 Earnings Beat Estimates, Revenues Improve Y/Y
ConocoPhillipsConocoPhillips(US:COP) ZACKSยท2025-08-07 15:10

Core Insights - ConocoPhillips (COP) reported second-quarter 2025 adjusted earnings per share of $1.42, exceeding the Zacks Consensus Estimate of $1.36, but down from $1.98 in the prior-year quarter [1][9] - Quarterly revenues reached $14.7 billion, an increase from $14.1 billion year-over-year, but fell short of the Zacks Consensus Estimate of $14.9 billion [1] Production - Total production averaged 2,391 thousand barrels of oil equivalent per day (MBoe/d), up from 1,945 MBoe/d in the same quarter last year, and surpassed the estimate of 2,353 MBoe/d [3] - Crude oil production rose to 1,155 thousand barrels per day (MBbls/d) from 955 MBbls/d year-over-year, also exceeding the estimate of 1,137 MBbls/d [4] - Natural gas production increased to 4,005 million cubic feet per day (MMcf/d) from 3,370 MMcf/d in the prior year [4] Realized Prices - The average realized oil equivalent price decreased to $45.77 per barrel from $56.56 a year ago [5] - The average realized crude oil price was $64.23 per barrel, down from $81.30 year-over-year [5] - The average realized natural gas price was $4.16 per thousand cubic feet, slightly down from $4.22 in the previous year [6] Total Expenses - Total expenses increased to $11.7 billion from $10.5 billion in the corresponding period of 2024, which was below the projected $12.2 billion [7] - The cost of purchased commodities rose to $5.1 billion from $4.9 billion year-over-year [7] Balance Sheet & Capital Spending - As of June 30, 2025, ConocoPhillips had $4.9 billion in cash and cash equivalents, with total long-term debt of $23.1 billion and short-term debt of $414 million [8] - Capital expenditure and investments totaled $3.29 billion, while net cash provided by operating activities was $3.5 billion [10] Guidance - For the third quarter of 2025, production is expected to be in the range of 2.33 to 2.37 MBoe/d, with full-year production anticipated to be between 2.35-2.37 MBoe/d [11]