ConocoPhillips (NYSE: COP), a leading oil exploration company, announced financial results for the fourth quarter of fiscal 2025, reporting a decline in revenues and adjusted earnings.
On an adjusted basis, earnings declined to $1.02 per share in the fourth quarter from $1.98 per share in Q4 2024. Reported net income was $1.4 billion or $1.17 per share in Q4, compared to $2.3 billion or $1.90 per share in the prior-year period.
Revenues and other income for the fourth quarter were $14.19 billion, compared to $14.74 billion in the prior-year quarter. Total production was 2,320 MBOED in Q4, an increase of 137 MBOED from the same period a year ago. Adjusting for closed acquisitions and dispositions, production decreased 2.6% YoY.
For the first quarter of fiscal 2026, management forecasts total production in the range of 2.30 to 2.34 barrels of oil equivalent per day (MMBOED), inclusive of weather-related downtime. For fiscal 2026, it expects total production to be between 2.33 million and 2.36 million MMBOED. The full-year guidance includes capital expenditures of approximately $12 billion and adjusted operating costs of $10.2 billion.
Ryan Lance, chief executive officer of ConocoPhillips, said, “ConocoPhillips delivered another year of strong performance in 2025, achieving our CFO-based return of capital target and growing our base dividend at a top-quartile S&P 500 rate, in line with our returns-focused value proposition. We outperformed our initial production, capital and cost guidance; successfully integrated Marathon Oil, doubling our synergy capture; and made strong progress on our incremental cost reduction and margin enhancement efforts.”