HOUSTON (dpa-AFX) - Energy major ConocoPhillips (COP) reported Thursday higher profit and revenues in its second quarter, primarily due to higher prices, despite weak production.
Looking ahead for the third quarter, production is expected to be 2.29 to 2.32 million barrels of oil equivalent per day.
All fiscal 2026 guidance remain unchanged.
Further, ConocoPhillips declared a third-quarter ordinary dividend of $0.84 per share, payable September 1, to stockholders of record at the close of business on August 17.
In the second quarter, net earnings were $3.93 billion or $3.23 per share, higher than last year's $1.97 billion or $1.56 per share.
Adjusted earnings were $4.0 billion or $3.24 per share, compared with adjusted earnings of $1.8 billion, or $1.42 per share a year ago.
Total revenues and other income climbed to $19.522 billion from last year's $14.740 billion. Sales and other operating revenues wre $19.161 billion, higher than prior year's $14.004 billion.
Production for the second quarter was 2,248 MBOED, a decrease of 143 MBOED from the same period a year ago.
The company's total average realized price was $62.33 per BOE, 36 percent higher than the prior year.
In pre-market activity on the NYSE, the shares were trading at $116.53, up 1.28 percent.
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