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ConocoPhillips COP Q2 2026 earnings

Reported August 6, 2026 · Before market open

Revenue$19.2BBeat by $374.3M
Adjusted EPS$3.24Beat by $0.34
Revenue estimate$18.8B
EPS estimate$2.90
“ConocoPhillips delivered strong second-quarter results with exceptional operational performance, record production from our peer-leading Permian position and disciplined execution across the business, all while continuing to progress our strategic priorities. We doubled our quarterly share repurchases, achieved our $5 billion asset disposition target ahead of schedule, secured low cost of supply opportunities in the Middle East, and increased our LNG offtake to 12 MTPA. We are executing well, delivering on our strategy, and remain on track to achieve our $7 billion free cash flow inflection by 2029.”
Ryan Lance

Next report

Nov 5, 2026 (in a month)
Revenue estimate$17.6B
EPS estimate$2.58

Financials

Q2 2026

Income statement

See full
Revenue$19.2B+36.8%
Gross profit$12.4B+39.6%
Net income$3.9B+99.4%
EPS (diluted)$3.23+107%

Balance sheet

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Cash & equivalents$7.0B+33.3%
Total debt$23.8B-0.6%
Total equity$65.3B-0.3%
Total assets$124.26B+1.4%

Cash flow

See full
Operating cash flow$7.4B+113%

Valuation & ratios

Valuation

as of 10/02/26
See full
Market cap$152.64B+30.9%
Enterprise value$169.44B+25.0%
P/E16.4×+3.3×
P/S2.4×+0.5×

Profitability

See full
Gross margin62%-1.5pp
Net margin14.7%-1.2pp

Returns & leverage

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Return on equity14.2%-1.8pp
Debt / equity0.4×0.0×
Current ratio1.5×+0.3×

Segments

By segment

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EMENA$2.3B+62.6%
Canada Operating Segment$1.9B+44.3%
Alaska Segment$1.9B+42.4%
Asia Pacific Operating Segment$674.0M+43.1%
Corporate$15.0M+7.1%

FAQ

When did ConocoPhillips report Q2 2026 earnings?
ConocoPhillips (COP) reported Q2 2026 earnings on August 6, 2026 before market open.
What were ConocoPhillips's Q2 2026 revenue and EPS?
ConocoPhillips reported revenue of $19.2B and adjusted eps of $3.24 for Q2 2026.
Did ConocoPhillips beat estimates in Q2 2026?
Revenue beat the consensus estimate of $18.8B by $374.3M. EPS beat the consensus estimate of $2.90 by $0.34.
How did ConocoPhillips's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 37.1% from $14.0B a year earlier.
Where can I find ConocoPhillips's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001163165-26-000030) and the 10-Q periodic report (0001163165-26-000032) directly on SEC EDGAR. The filing index links above go to sec.gov.