COP

ConocoPhillips NYSE: COP reported second-quarter 2026 production above the high end of its guidance range, supported by record Permian Basin output, while also announcing that Chairman and Chief Executive Officer Ryan Lance will retire from the CEO role effective Sept. 1.

COP reaffirms a $7 billion free-cash-flow inflection by 2029, backed by lower capital spending, major projects and improving Permian efficiency.

The headline numbers for ConocoPhillips (COP) give insight into how the company performed in the quarter ended June 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

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ConocoPhillips (COP) Q2 2026 Earnings Call Transcript

Today, ConocoPhillips (COP) delivered a strong second quarter driven by elevated oil prices from geopolitical tensions in the Middle East. Given its heavy weighting across major energy sector funds, the company's operational resilience acts as a key performance indicator for the energy ETF market.

ConocoPhillips said on Thursday that any delay ​to its Qatar LNG project would ‌likely be in months rather than a year or more and it does not expect any impact on ​free cash flow.

COP surpasses Q2 earnings and revenues estimates as higher commodity prices drive earnings growth despite lower production and reaffirmed guidance.

ConocoPhillips  (NYSE:COP ) shares are trading higher on Thursday after the company reported second-quarter fiscal 2026 results and disclosed leadership changes.