ConocoPhillips (COP) · Fiscal Q3 2026 · Form 8-K filed Nov 5, 2026
| Key figure | This quarter |
|---|---|
| Diluted EPS (GAAP) | $3.34 |
| Diluted EPS (non-GAAP) | $3.27 |
| Operating cash flow | $7.2 billion |
Results
ConocoPhillips reported third-quarter 2026 earnings of $4.0 billion, or $3.34 per share on a GAAP diluted basis. Adjusted (non-GAAP) earnings were $3.9 billion, or $3.27 per share.
GAAP diluted EPS of $3.34 compares with $3.23 in the prior quarter and $1.38 in the same quarter a year earlier, based on the company's XBRL history. Net income was $4.0 billion, up from $3.9 billion in the second quarter of 2026 and $1.7 billion in the third quarter of 2025.
Margins and cash flow
Cash provided by operating activities, which the company also calls CFO, was $7.2 billion for the quarter.
Guidance
Fourth-quarter 2026 production is expected to be 2.32 to 2.36 million barrels of oil equivalent per day.
Full-year capital expenditures and adjusted operating cost guidance remain unchanged.
The company says it remains on track to deliver a $7 billion free cash flow inflection by 2029.
At the Willow project, module fabrication scope is over 75% complete, and first oil is on track for early 2029.
What else stood out
The company distributed $3.4 billion to shareholders in the quarter: $2.4 billion through share repurchases and $1.0 billion through the ordinary dividend.
It raised the quarterly ordinary dividend by 11% to $0.93 per share, which it ties to a top-quartile S&P 500 growth objective.
Its commercial LNG offtake portfolio expanded to 13 MTPA.
Revenue in the XBRL history was $19.4 billion for the quarter, up from $19.2 billion in the second quarter of 2026 and $15.0 billion in the third quarter of 2025.
