HOUSTON (dpa-AFX) - ConocoPhillips (COP) reported Thursday that net earnings for the third quarter declined to $1.7 billion or $1.38 per share from $2.0 billion or $1.76 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $2.0 billion or $1.61 per share, compared to $2.1 billion, or $1.78 per share in the year-ago quarter.
On average, 26 analysts polled by Thomson Reuters expected the company to report earnings of $1.41 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues and other Income for the quarter increased to $15.52 billion from $13.60 billion in the same quarter last year. Analysts expected revenues of $14.63 billion for the quarter.
Total production for the quarter was 2,399 thousand barrels of oil equivalent per day or MBOED, an increase of 482 MBOED from the same period a year ago.
After adjusting for impacts from closed acquisitions and dispositions, third-quarter production increased 83 MBOED or 4 percent from the same period a year ago.
Looking ahead the fourth quarter of fiscal 2025, the company's production is expected to be 2.30 to 2.34 million barrels of oil equivalent per day or MMBOED.
Full-year 2025 production is now expected to be 2.375 MMBOED, up from the prior guidance range of 2.35 to 2.37 MMBOED.
The company provided preliminary guidance for 2026. Capital expenditures are expected to be approximately $12 billion, down $0.5 billion from the midpoint of 2025 guidance.
ConocoPhillips raised the fourth-quarter ordinary dividend by 8 percent to $0.84 per share, payable December 1, 2025, to stockholders of record at the close of business on November 17, 2025.
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