$COP · CONOCOPHILLIPS
ConocoPhillips filed its Q3 2026 10-Q. Total revenues and other income rose to $20.057B from $15.522B, with sales and other operating revenues up to $19.435B from $15.031B (+29.3% YoY). Net income was $4.001B versus $1.726B, and diluted EPS was $3.34 versus $1.38. Nine-month net income reached $10.115B versus $6.546B. The company ended the quarter with $10.4B in cash, equivalents, restricted cash and short-term investments plus $1.1B in long-term investments.
- Q3 net income $4.001B vs $1.726B prior year; diluted EPS $3.34 vs $1.38.
- Total crude oil realized price $88.80/bbl vs $66.13/bbl a year ago.
- Nine-month net income $10.115B vs $6.546B; operating cash flow $18.924B vs $15.478B.
- Repurchased $5.407B of common stock in nine months vs $3.996B prior year.
- Sold noncore Lower 48 assets for ~$1.7B net proceeds in Q3 2026.
Extended-hours last trade $138.62, +1.23% vs regular close, despite a -5.17% regular-session decline today. The after-hours uptick suggests the strong earnings print is being received positively.
A doubling of quarterly profit on sharply higher realized crude prices confirms strong operating leverage for the largest U.S. independent E&P.
Higher realized crude prices ($88.80/bbl vs $66.13) lifted results across the E&P peer group, with Lower 48 segment earnings nearly doubling to $2.461B.
Production declined to 2,302 MBOED from 2,399 MBOED, and the planned $0.4B Kirkuk (Iraq) acquisition carries regulatory and closing risk.