Filing Flows › ConocoPhillips (COP) › Q1 2026
ConocoPhillips (COP) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
ConocoPhillips (COP) reported revenue of $15.8B for the first quarter 2026 (Q1 2026), -5% from a year earlier and +18% from the quarter before. Operating margin was 21.3%, net earnings $2.2B (13.9% of revenue).
ConocoPhillips, Q1 2026: revenue $15.8B (-5% year over year), operating margin 21.3%, net earnings $2.2B, operating cash flow $4.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.8B | +18% | -5% |
| Operating profit | $3.4B | +50% | -25% |
| Net earnings | $2.2B | +51% | -23% |
| Operating cash flow | $4.3B | -0.5% | -30% |
| Free cash flow | $1.3B | — | -51% |
What changed
Revenue was $15.8B in Q1 2026, down 5% year over year and up 18% from the previous quarter.
Operating profit was $3.4B, a 21.3% margin (down 5.7 points year over year). Total costs grew 3% against a revenue fall of 5%. Net earnings were $2.2B, down 23% year over year. The effective tax rate was 35.1%.
Operating cash flow was $4.3B (down 30% year over year), 197% of net earnings. Non-cash charges added back $2.9B of depreciation and amortization. Working capital and other items used $0.79B. Capital expenditures of $2.9B left free cash flow of $1.3B.
Questions
What was ConocoPhillips' revenue in the first quarter 2026?
ConocoPhillips (COP) reported revenue of $15.8B for the first quarter 2026 (Q1 2026), -5% from a year earlier and +18% from the quarter before.
Was ConocoPhillips profitable in the first quarter 2026?
Operating profit was $3.4B (21.3% of revenue) and net earnings $2.2B.
Source: ConocoPhillips 10-Q on SEC EDGAR.