ConocoPhillips · COP · Next earnings

ConocoPhillips reports Thursday, Nov 5, 2026

COP reports before market open with consensus EPS at $2.58 and revenue at $17.40B. Last quarter: ConocoPhillips Beats Q1 Estimates on Strong Free Cash Flow, Raises Capex for Permian

Reports Before market open46 days awayDate estimated Energy

What the street expects

Consensus for the coming report
Consensus EPS $2.58 Calendar consensus
Consensus revenue $17.40B Calendar consensus
Report date Nov 5, 2026 Thursday, date estimated
Session Before market open 46 days away

Where COP left off: FY2026 Q1

Full report

ConocoPhillips Beats Q1 Estimates on Strong Free Cash Flow, Raises Capex for Permian

EPS surprise +9.9% Reported $1.89 vs $1.72
Revenue surprise +2.8% Reported $16.05B vs $15.62B
Stock move -1.9% Event window
Subsequent drift -9.4% Up to 20 sessions

Capex guidance was raised to $12.0-12.5B from the prior range, adding $250M for Permian and non-operated OBO activity. Full-year production guidance was maintained. The cost-reduction program targeting $1B in run-rate savings was maintained. The 45% CFO shareholder return target was reaffirmed. Overall guidance sentiment was maintained despite heightened macro volatility from Middle East conflict.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Geopolitical volatility from the Middle East conflict affecting crude and LNG markets.
  • Potential delays in Qatar LNG projects (NFE and NFS) and associated capital spending.
  • Uncertainty around global oil demand and possible inventory draws leading to price volatility.
  • Higher capex may pressure free cash flow and dividend sustainability if oil prices decline.

Questions analysts left open

  • Impact of Middle East conflict on global oil demand and LNG supply.
  • Capex increase and its effect on free cash flow and dividend sustainability.
  • Timeline and commercial outlook for Qatar LNG projects (NFE/NFS).
  • Dividend policy flexibility in a pro-cyclical environment.

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Recent COP quarters

All COP earnings
-1.9%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.