The company said Q1 2024 net income was $2.6 billion ($2.15 per share), and adjusted earnings excluding special items were $2.4 billion ($2.03 per share). Net income and adjusted earnings for Q1 2023 were $2.9 billion ($2.38 per share) each.

1. 01

   The company said Q1 2024 net income was $2.6 billion ($2.15 per share), and adjusted earnings excluding special items were $2.4 billion ($2.03 per share). Net income and adjusted earnings for Q1 2023 were $2.9 billion ($2.38 per share) each.

2. 02

   ConocoPhillips said its total average realized price for Q1 2024 was $56.60 per BOE, 7% lower than the $60.86 per BOE realized in Q1 2023. The company cited lower prices, higher costs and higher depreciation as factors that reduced net income.

3. 03

   The company said production for Q1 2024 was 1,902 MBOED, up 110 MBOED from the same period a year earlier. After adjusting for closed acquisitions and dispositions, production was 43 MBOED, an increase of 2%.

4. 04

   ConocoPhillips said cash provided by operating activities for Q1 2024 was $5.0 billion, and it returned $2.2 billion to shareholders. Returns consisted of $1.3 billion in share repurchases and $0.9 billion in ordinary dividends and VROC.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.