Back to top

Image: Bigstock

COP Poised to Report Q3 Earnings: Here's What You Need to Know

Read MoreHide Full Article

Key Takeaways

  • ConocoPhillips will announce third-quarter 2025 earnings before the market opens on Nov. 6.
  • Q3 revenue is estimated at $14.6B, up 7.6% year over year, while EPS is expected to fall 21.4%.
  • COP's daily production is projected to rise 22.2% amid favorable oil prices in the September quarter.

ConocoPhillips (COP - Free Report) is set to report third-quarter 2025 results on Nov. 6, before the opening bell.

In the last reported quarter, its adjusted earnings of $1.42 per share beat the Zacks Consensus Estimate of $1.36, primarily attributed to higher oil equivalent production volumes.

Earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of roughly 4.01%. This is depicted in the graph below:

ConocoPhillips Price and EPS Surprise

ConocoPhillips Price and EPS Surprise

ConocoPhillips price-eps-surprise | ConocoPhillips Quote

Estimate Trend for COP

The Zacks Consensus Estimate for third-quarter earnings per share of $1.40 has witnessed two upward and five downward revisions in the past 30 days. The estimated figure indicates a 21.4% decline from the prior-year reported number.

The Zacks Consensus Estimate for revenues of $14.6 billion suggests a 7.6% increase from the year-ago recorded figure.

Factors to Consider for COP

To have an idea of how oil and natural gas prices behave in the September quarter, let's analyze the commodity prices from the data provided by the U.S. Energy Information Administration (“EIA”). The average Cushing, OK, WTI spot prices for July, August and September of this year were $68.39 per barrel, $64.86 per barrel and $63.96 per barrel, respectively, per EIA data. Commodity prices were $63.54 per barrel, $62.17 per barrel and $68.17 per barrel, respectively, in April, May and June, according to the EIA. Thus, in the first two months of the third quarter of 2025, the oil pricing environment was healthier sequentially.

However, the pricing environment was even better in the year-ago months. Per EIA data, the average commodity prices were $81.80 per barrel, $76.68 per barrel and $70.24 per barrel, respectively, in July, August and September of 2024.

Given the backdrop, the third-quarter 2025 pricing environment was favorable for exploration and production activities of COP, since the breakeven price in the shale resources, where the company operates, is much lower. Backed by handsome prices, we expect COP to witness year-over-year daily oil equivalent production growth of 22.2% in the September quarter of 2025. 

Earnings Whispers

Our proven model does not indicate an earnings beat for COP this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.

Earnings ESP: COP has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Zacks Rank: COP currently carries a Zacks Rank #3.

Stocks to Consider

Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.

Calumet, Inc. (CLMT - Free Report) currently has an Earnings ESP of +29.48% and a Zacks Rank #3. 

CLMT is scheduled to release third-quarter 2025 earnings on Nov. 7. The Zacks Consensus Estimate for CLMT’s bottom-line is pegged at a loss of 30 cents per share.

Comstock Resources (CRK - Free Report) currently has an Earnings ESP of +2.86% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

CRK is set to release third-quarter 2025 earnings on Nov. 3. The Zacks Consensus Estimate for CRK’s earnings is pegged at 4 cents per share, indicating a 123.5% increase from the prior-year reported figure.

Marathon Petroleum Corp. (MPC - Free Report) currently has an Earnings ESP of +8.68% and a Zacks Rank #3.

MPC is set to release third-quarter 2025 earnings on Nov. 4. The Zacks Consensus Estimate for MPC’s earnings is pegged at $2.86 per share, which indicates an increase of 52.9% from the prior-year reported figure.

Published in