ConocoPhillips: EPS $3.27 vs $3.05 expected; revenue $19.0B vs $18.6B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 3.27 | 3.05 | +7.2% | 1.61 |
| Revenue (USD bn) | 19.00 | 18.59 | +2.2% | 15.03 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Nov 5, 2026 | Q3 FY2026 | 3.27 | 3.05 | +7.2% | 19.00 | 18.59 | +2.2% |
| Aug 6, 2026 | Q2 FY2026 | 3.24 | 2.90 | +11.7% | 19.52 | 18.79 | +3.9% |
| Apr 30, 2026 | Q1 FY2026 | 1.89 | 1.72 | +9.9% | 16.05 | 15.62 | +2.8% |
| Feb 5, 2026 | Q4 FY2025 | 1.02 | 1.07 | −4.7% | 14.19 | 13.95 | +1.7% |
| Nov 6, 2025 | Q3 FY2025 | 1.61 | 1.41 | +14.2% | 15.03 | 14.61 | +2.9% |
| Aug 7, 2025 | Q2 FY2025 | 1.42 | 1.35 | +5.2% | 13.98 | 14.68 | −4.8% |
| May 8, 2025 | Q1 FY2025 | 2.09 | 2.05 | +2.0% | 16.46 | 16.33 | +0.8% |
| Feb 6, 2025 | Q4 FY2024 | 1.98 | 1.78 | +11.2% | 14.24 | 14.45 | −1.5% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
ConocoPhillips results: EPS $3.27 vs $3.05 expected; revenue $19.0B vs $18.6B. The results cover the company's Q3 FY2026. EPS came in above analysts' estimate by 7.2%; revenue above the estimate by 2.2%.
Revenue was up 26.4% from $15.0 billion a year earlier (Q3 FY2025). EPS was up 103.1% from $1.61 a year earlier. On its record, EPS topped analysts' estimates in 6 of 7 earlier comparable reports.
What the results mean
According to the company's results release, management kept its financial outlook unchanged.
ConocoPhillips’ earnings growth was driven by rising realized prices, while declining production volumes partly offset that benefit. This highlights the business’s sensitivity to oil and gas prices, even as operations improved at some assets. Reported earnings also benefited from a tax reserve reversal, an effect separate from production performance.
Portfolio performance was uneven: production growth from domestic assets was offset by the impact of the Middle East conflict on operations in Qatar and increased Surmont royalties. Management highlighted improved Permian well completion efficiency, production startup at a Surmont pad, progress on Willow and expansion of the commercial liquefied natural gas offtake portfolio.
Operating cash flow provided resources for capital investment, share repurchases and dividends, with additional liquidity from sales of noncore assets. The dividend increase illustrates management’s focus on returning cash to shareholders alongside funding portfolio development.
What to watch on the earnings call: The Middle East conflict’s impact on Qatar operations, the effect of Surmont royalties on production volumes, the durability of Permian completion efficiency gains and progress on Willow. Other topics include the economics of liquefied natural gas offtake contracts, the balance between capital investment and cash returns to shareholders, and clarification of the tax reserve reversal’s contribution to reported earnings.
For the full analysis of ConocoPhillips stock — valuation, scores and financial statements — see the stock page linked with this story.
Latest Updates · 1
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Update: ConocoPhillips reported a total net profit of $4 billion for the third quarter of 2026. This represents significant growth compared to the net profit of $1.73 billion recorded in the same period last year.