The company reported net income of $2.8 billion ($2.23 per share) for Q1 2025, and adjusted earnings excluding special items of $2.7 billion ($2.09 per share). ConocoPhillips reported net income of $2.6 billion ($2.15 per share) and adjusted earnings of $2.4 billion ($2.03 per share) for Q1 2024.

1. 01

   The company reported net income of $2.8 billion ($2.23 per share) for Q1 2025, and adjusted earnings excluding special items of $2.7 billion ($2.09 per share). ConocoPhillips reported net income of $2.6 billion ($2.15 per share) and adjusted earnings of $2.4 billion ($2.03 per share) for Q1 2024.

2. 02

   ConocoPhillips said production for Q1 was 2,389 MBOED, up 487 MBOED from a year earlier. Its total average realized price was $53.34 per BOE, 6% lower than the $56.60 per BOE realized in Q1 2024. The company cited higher sales volumes as the factor behind higher earnings.

3. 03

   The company said cash provided by operating activities was $6.1 billion for Q1, and CFO excluding the change in operating working capital of $0.6 billion was $5.5 billion. It returned $2.5 billion to shareholders during the quarter through share repurchases of $1.5 billion and ordinary dividends of $1.0 billion, and ended the quarter with cash and short-term investments of $7.5 billion.

4. 04

   The company lowered its full-year capital expenditures outlook to $12.3 to $12.6 billion (versus prior guidance of approximately $12.9 billion) and its adjusted operating cost outlook to $10.7 to $10.9 billion (versus prior guidance of $10.9 to $11.1 billion). ConocoPhillips also said Andy O’Brien will succeed Bill Bullock as chief financial officer effective June 1, 2025.

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

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