ConocoPhillips filed its quarterly report on Form 10-Q with the SEC on August 6, 2026, covering the three- and six-month periods ended June 30, 2026, and reporting net income of $3,931 million for the second quarter.

Key Highlights

  • Q2 2026 net income: $3,931 million, compared with $1,971 million in Q2 2025.
  • Q2 2026 sales and other operating revenues: $19,161 million, up from $14,004 million in Q2 2025.
  • Six-month net income: $6,114 million for the first half of 2026, versus $4,820 million for the same period in 2025.
  • Diluted EPS: $3.23 for Q2 2026, compared with $1.56 for Q2 2025; $5.00 for the six months ended June 30, 2026, versus $3.79 for the same period in 2025.
  • Total assets: $124,261 million as of June 30, 2026, versus $121,939 million as of December 31, 2025.
  • Shares outstanding: 1,201,337,479 shares of common stock, $0.01 par value, as of June 30, 2026.
  • Long-term debt: $22,828 million as of June 30, 2026, compared with $22,424 million as of December 31, 2025.

ConocoPhillips Q2 2026 Financial Results and Balance Sheet Position

According to the filing, ConocoPhillips (NYSE: COP) reported total revenues and other income of $19,522 million for the three months ended June 30, 2026, up from $14,740 million in the prior-year quarter. Sales and other operating revenues accounted for $19,161 million of that total. The company reported income before income taxes of $6,082 million for Q2 2026, with an income tax provision of $2,151 million, resulting in net income of $3,931 million. For the six months ended June 30, 2026, total revenues and other income were $35,576 million, and net income was $6,114 million.

On the cost side, the filing disclosed total costs and expenses of $13,440 million for Q2 2026, compared with $11,723 million in Q2 2025. Purchased commodities were the largest cost component at $6,712 million for the quarter. Depreciation, depletion and amortization came to $2,983 million for Q2 2026, and production and operating expenses were $2,431 million. Interest and debt expense was $182 million for the quarter, down from $232 million in Q2 2025.

The consolidated balance sheet as of June 30, 2026, showed total assets of $124,261 million and total liabilities of $58,912 million. Cash and cash equivalents were $6,574 million, and short-term investments were $1,118 million. Net properties, plants and equipment stood at $91,248 million, net of accumulated DD&A of $95,966 million. Common stock had 2,500,000,000 shares authorized at $0.01 par value, with 2,255,963,919 shares issued and 1,054,626,440 shares held in treasury as of June 30, 2026, according to the filing.

What Was Disclosed

ConocoPhillips disclosed its financial results for the three and six months ended June 30, 2026, including income statements, a balance sheet, a statement of cash flows, and accompanying notes covering topics such as debt, contingencies, derivatives, segment information, and income taxes.