ConocoPhillips (NYSE:COP) Tops Q3 2025 Earnings and Revenue Estimates

ConocoPhillips (NYSE:COP) reported financial results for the third quarter of 2025 that surpassed analyst expectations on the top and bottom lines, a performance that appears to be generating a cautiously positive response in early market activity.

Earnings and Revenue Versus Estimates

The company's quarterly results demonstrated strength against Wall Street forecasts. Adjusted earnings, which exclude special items, came in at $1.61 per share. This figure comfortably exceeded the analyst consensus estimate of $1.45 per share. On the revenue front, the company also delivered a beat.

• Reported Adjusted EPS: $1.61
• Analyst Estimate for EPS: $1.45
• Reported Revenue: $15.52 billion
• Analyst Estimate for Revenue: $14.87 billion

The outperformance was achieved despite a year-over-year decline in earnings, which the company attributed to the impact of lower realized commodity prices. The total average realized price was $46.44 per barrel of oil equivalent (BOE), down 14% from the $54.18 per BOE realized in the third quarter of 2024.

Market Reaction and Price Action

Following the earnings release, the market's initial reaction has been positive. In pre-market trading, the stock is indicating a gain of approximately 0.74%. This upward move suggests investors are rewarding the company for its earnings and revenue beat, as well as other strategic announcements detailed in the release. This positive momentum stands in contrast to the stock's performance over the past month, which had seen a decline of over 6%.

Operational and Strategic Highlights

Beyond the earnings figures, the press release outlined several key developments that signal the company's strategic direction and financial health.

• Dividend Increase: The Board of Directors approved an 8% increase in the quarterly ordinary dividend, raising it to $0.84 per share. This aligns with the company's stated goal of providing top-tier dividend growth.
• Shareholder Returns: The company distributed over $2.2 billion to shareholders in the quarter, split between $1.3 billion in share repurchases and $1.0 billion in dividend payments.
• Production Growth: Total production for the quarter was 2,399 thousand barrels of oil equivalent per day (MBOED), a significant increase from 1,917 MBOED in the same period last year, largely driven by the acquisition of Marathon Oil.
• 2026 Preliminary Guidance: The company provided an early look at 2026, forecasting capital expenditures of approximately $12 billion and adjusted operating costs of $10.2 billion, both representing decreases from 2025 levels. Underlying production is expected to be flat to up 2%.
• Major Projects: Updates were provided on key projects, including the Willow project in Alaska and three equity LNG projects. The company noted it has reduced total LNG project capital guidance to $3.4 billion.

Outlook and Analyst Estimates

The company's preliminary 2026 guidance offers a point of comparison for future performance. While ConocoPhillips expects modest production growth and lower costs, its capital expenditure plan of $12 billion will be a key area for investors to watch as the year progresses. For the upcoming fourth quarter of 2025, analysts are currently estimating revenue of $14.30 billion and earnings per share of $1.38.

For a detailed breakdown of historical earnings, future estimates, and analyst projections for ConocoPhillips, you can review the data available here.

Disclaimer: This article is for informational purposes only and does not constitute investment advice, financial advice, or a recommendation to buy or sell any security.