Revenue Decline Driven by Lower Commodity Prices
Total revenue fell 4.6% YoY to $15.76B in Q1 2026 from $16.52B in Q1 2025, reflecting the impact of weaker oil and gas price realizations on top-line performance.
CONOCOPHILLIPS is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: ConocoPhillips reported Q1 2026 revenue of $15.76B, down 4.6% YoY, with net income falling 23.4% to $2.18B amid lower commodity prices and reduced operating cash flow of $4.30B.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue fell 4.6% YoY to $15.76B in Q1 2026 from $16.52B in Q1 2025, reflecting the impact of weaker oil and gas price realizations on top-line performance.
Cost of revenue rose 1.5% YoY to $6.28B even as revenue declined, compressing margins and indicating that production and operating costs did not fall proportionally with commodity prices.
Operating cash flow declined sharply by 29.8% YoY to $4.30B from $6.12B, suggesting that working capital changes and lower earnings materially reduced cash generation in the quarter.
Revenue
$15.76B
-4.58% YoY
EPS (Basic)
$1.78
-20.18% YoY
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