ConocoPhillips Set for Q2 Earnings Growth with 103.5% EPS Surge Expected

ConocoPhillips is set to report its Q2 2026 earnings on August 6. According to estimates from 19 analysts, the oil and gas exploration and production company will post $2.89 per share in earnings on revenue of $19.83B.

The consensus EPS target has climbed up 1.4% over the past month from $2.85, indicating modest upward revisions as the quarter progressed.

Compared to Q2 2025, ConocoPhillips is expected to see a 103.5% surge in earnings per share and a 34.5% increase in revenue. The company's performance hinges on production volumes across its portfolio, per-barrel realizations tied to oil and natural gas prices, and unit costs of production.

Investors will scrutinize total production volumes across key basins, capital efficiency metrics, and all-in unit costs to assess whether margin expansion is sustainable. The company's ability to convert revenue growth into accelerating profitability will depend heavily on production costs remaining disciplined even as output scales.