ConocoPhillips reported second-quarter 2026 earnings of $3.9 billion, or $3.23 per share, and declared a third-quarter ordinary dividend of $0.84 per share. Adjusted earnings were $4.0 billion, or $3.24 per share, compared with $1.8 billion, or $1.42 per share, in the same period last year. The company generated cash from operations of $7.2 billion and increased total shareholder distributions to $3.0 billion, including $2.0 billion in share repurchases and $1.0 billion in dividends. ConocoPhillips achieved its $5 billion asset disposition target ahead of schedule, signed agreements to sell noncore Lower 48 assets for $1.7 billion, and advanced its LNG strategy with additional offtake agreements bringing total LNG offtake to 12 million tonnes per annum. Full-year guidance items were reaffirmed, and third-quarter production is expected to be between 2.29 and 2.32 million barrels of oil equivalent per day.
ConocoPhillipsStrong earnings beat, increased shareholder distributions, and asset sale progress.
