Energy exploration company ConocoPhillips (NYSE: COP) on Thursday reported lower revenues and adjusted profit for the third quarter of 2024.
Net income, adjusted for special items, decreased 18% year-over-year to $1.78 per share in the three months. The reported profit was $2.06 billion or $1.76 per share in Q3, compared to $2.80 billion or $2.32 per share in the third quarter of 2023.
The bottom line was negatively impacted by an 8% fall in revenues and other income to $13.6 billion. At 1,917 MBOED, total production was up 6%.