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ConocoPhillips COP Lower 48 — Net income (loss)

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$835M
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$294M-10.1%
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$265M-36.8%
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-$159M+37.4%
Canada Operating Segment
$85M-66.8%

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Other financials

Income statement

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Revenue$15.8B-4.6%
Gross profit$9.5B-8.2%
Net income$2.2B-23.4%
EPS (diluted)$1.78-20.2%

Balance sheet

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Cash & equivalents$6.2B-5.7%
Total debt$23.3B-4.5%
Total equity$64.5B-1.1%
Total assets$122.73B-1.2%

Cash flow

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Operating cash flow$4.3B-29.8%

Valuation

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Market cap$131.26B+21.2%
Enterprise value$148.31B+18.2%
P/E17.9×+6.6×
P/S2.3×+0.4×

Profitability

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Gross margin61.5%-2.2pp
Net margin12.6%-4.0pp

Returns & leverage

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Return on equity11.3%-5.4pp
Debt / equity0.4×0.0×
Current ratio1.3×0.0×

Where this comes from

Reported directly by ConocoPhillips in its filing.

Tagged under the XBRL concept us-gaap:NetIncomeLoss.

The official record: ConocoPhillips’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is ConocoPhillips's lower 48 — net income (loss)?
ConocoPhillips (COP) reported lower 48 — net income (loss) of $1.4B in Q1 2026.
How has ConocoPhillips's lower 48 — net income (loss) changed year-over-year?
ConocoPhillips's lower 48 — net income (loss) decreased by 21.6% year-over-year, from $1.79B to $1.4B.
What is the long-term trend for ConocoPhillips's lower 48 — net income (loss)?
Over 3 years (2021 to 2024), ConocoPhillips's lower 48 — net income (loss) has grown at a 1.6% compound annual growth rate (CAGR), from $4.93B to $5.18B.
What does lower 48 — net income (loss) mean?
The net profit or loss generated by the company's operations in the Lower 48 United States.
How do you interpret lower 48 — net income (loss)?
An increase indicates improved operational efficiency or higher realized commodity prices, while a decrease suggests rising costs or lower production volumes.
How does lower 48 — net income (loss) compare across companies?
Comparable to segment-level net income reported by other major integrated oil and gas companies operating in North American shale basins.