Energy exploration company ConocoPhillips (NYSE: COP) on Thursday reported a decline in revenues and adjusted profit for the fourth quarter of 2024.
Net income, adjusted for special items, decreased 18% year-over-year to $1.98 per share in the three months. The reported profit was $2.31 billion or $1.90 per share in Q4, compared to $3.0 billion or $2.52 per share in the fourth quarter of 2023.
The bottom line was negatively impacted by a 4% fall in revenues and other income to $140.7 billion. At 2,183 MBOED, total production was up 15%.
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