ConocoPhillips Q1 Profit Declines; Updates Production And Capital Guidance

ConocoPhillips reported first-quarter earnings of $2.2 billion, or $1.78 per share, down from $2.8 billion, or $2.23 per share, a year ago. On an adjusted basis, earnings were $2.3 billion, or $1.89 per share, versus $2.7 billion, or $2.09 last year. The headline shows a year-over-year decline in profitability, but the release is limited to earnings figures and does not include guidance or a deeper operational update.

Analysis

ConocoPhillips reported first-quarter earnings of $2.2 billion, or $1.78 per share, down from $2.8 billion, or $2.23 per share, a year ago. On an adjusted basis, earnings were $2.3 billion, or $1.89 per share, versus $2.7 billion, or $2.09 last year. The headline shows a year-over-year decline in profitability, but the release is limited to earnings figures and does not include guidance or a deeper operational update.