ConocoPhillips Q3 2026: EPS $3.34 beats, dividend up 11%
ConocoPhillips beat the $2.9914 consensus with $3.34 of GAAP EPS and $3.27 adjusted, and it covered $3.4 billion of shareholder distributions with $4.04 billion of free cash flow. The quarter was driven mostly by prices rather than volumes: the realized price rose 32% while production fell 97 MBOED. Treat the EPS beat as depending on commodity prices, and treat the dividend increase as the more durable signal.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $3.34 beat the $2.9914 consensus by about $0.35, and adjusted EPS of $3.27 beat it by about $0.28. Roughly $0.11 of the GAAP figure came from reversing a tax reserve, and special items netted to a $0.07 per-share benefit. The beat is real even after stripping those out, but it is smaller than the headline suggests.
Revenue of $17.20 billion rose 29.0% from $13.34 billion a year earlier, but was 4.9% below Q2 2026's $18.09 billion. No revenue consensus figure was supplied, so the beat or miss judgment applies to earnings only. Gross margin of 56.8% was 0.7 points above the year-ago 56.1%, but 6.1 points below Q2's 62.9%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-05
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