ConocoPhillips (COP) Reports Q2 Earnings: What Key Metrics Have to Say

ConocoPhillips (COP) reported $19.52 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 32.4%. EPS of $3.24 for the same period compares to $1.42 a year ago.

The reported revenue represents a surprise of +11.32% over the Zacks Consensus Estimate of $17.54 billion. With the consensus EPS estimate being $2.96, the EPS surprise was +9.46%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

• Natural gas produced per day - Total company: 3710 millions of cubic feet per day compared to the 3530.99 millions of cubic feet per day average estimate based on five analysts.
• Total production per day: 2101 millions of barrels of oil equivalent per day versus the five-analyst average estimate of 2211.96 millions of barrels of oil equivalent per day.
• Crude oil produced per day - Total company: 1094 millions of barrels of oil per day versus 1146.66 millions of barrels of oil per day estimated by five analysts on average.
• Average Sales Price - Natural gas - Total company: $2.58 compared to the $3.27 average estimate based on four analysts.
• Natural gas liquids produced per day - Total company: 420 millions of barrels of oil per day compared to the 406.73 millions of barrels of oil per day average estimate based on four analysts.
• Average Sales Price - Crude oil - Total company per bbl: $99.40 compared to the $97.99 average estimate based on three analysts.
• Bitumen produced per day: 115 millions of barrels of oil per day versus 112.83 millions of barrels of oil per day estimated by three analysts on average.
• Crude oil produced per day - Europe, Middle East and North Africa: 122 millions of barrels of oil per day compared to the 110.49 millions of barrels of oil per day average estimate based on two analysts.
• Natural gas liquids produced per day - Europe, Middle East and North Africa: 8 millions of barrels of oil per day versus 7.97 millions of barrels of oil per day estimated by two analysts on average.
• Natural gas produced per day - Europe, Middle East and North Africa: 514 millions of cubic feet per day compared to the 510.39 millions of cubic feet per day average estimate based on two analysts.
• Revenues- Sales and other operating revenues: $19.16 billion versus $18.14 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +36.8% change.
• Revenues- Equity in earnings of affiliates: $239 million compared to the $173.93 million average estimate based on two analysts. The reported number represents a change of -24.1% year over year.

View all Key Company Metrics for ConocoPhillips here>>>

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