ConocoPhillips (COP) Q1 2026 (USD): Adj. EPS 1.89 (exp. 1.67), Adj. net income 2.3bln (exp. 2.03bln)
Importance
Level 1
- ConocoPhillips declared a second-quarter ordinary dividend of USD 0.84/shr, payable June 1, 2026, to stockholders of record at the close of business on May 11, 2026.
- Full-year production is expected to be 2.295-2.325 MMBOED. This reflects a 20 MBOED annual adjustment for Qatar, given the exclusion of Qatar production from second-quarter guidance, as well as a 15 MBOED annual royalty rate adjustment at Surmont due to higher oil prices.
- Capital spending for 2026 is expected to be 12-12.5bln, including incremental Permian activity. The range reflects uncertainty around the macro environment and North Field East and North Field South capital timing in Qatar.