Stock Analysis on Net
Stock Analysis on Net

ConocoPhillips (NYSE:COP)

$24.99

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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ConocoPhillips, consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Sales and other operating revenues
Equity in earnings of affiliates
Gain (loss) on dispositions
Other income (loss)
Revenues and other income
Purchased commodities
Production and operating expenses
Selling, general and administrative expenses
Exploration expenses
Depreciation, depletion and amortization
Impairments
Taxes other than income taxes
Accretion on discounted liabilities
Operating income (loss)
Interest and debt expense
Foreign currency transaction gain (loss)
Other expenses
Income (loss) before income taxes
Income tax (provision) benefit
Net income (loss)
Net income attributable to noncontrolling interests
Net income (loss) attributable to ConocoPhillips

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Revenue Trends
Sales and other operating revenues exhibited a significant recovery after a steep decline in early 2020, reaching a peak in late 2021. Following the peak, revenues experienced a downward trend through 2023, with a modest recovery observed at the start of 2024.
Income from Affiliates and Other Income Components
Equity in earnings of affiliates showed steady growth from 2020 through 2022, with some fluctuations in 2023 and 2024. Gains on dispositions were volatile, with large positive spikes in late 2021 and early 2022, but negative or minimal gains were seen intermittently. Other income and losses were negative at the start of 2020 but improved markedly by the end of 2020 and remained relatively stable afterward.
Cost and Expense Analysis
Purchased Commodities
Purchased commodities costs increased substantially from mid-2020, peaking in mid-2022 before declining somewhat yet remaining elevated throughout 2023 and early 2024.
Production and Operating Expenses
Production and operating expenses trended upwards steadily over the full period, suggesting increasing operational costs.
Selling, General and Administrative Expenses
These expenses were irregular, showing large negative values early on but stabilizing in the later years with significant fluctuations including a notable spike in early 2025.
Exploration Expenses
Exploration expenses were relatively low but displayed some variability including a large spike in the last quarter of 2020.
Depreciation, Depletion and Amortization
Depreciation, depletion, and amortization costs increased gradually over the period, reflecting rising asset-related expenses.
Impairments
Impairments were significant and negative in several quarters of 2020 and late 2021, with mostly negligible values elsewhere, indicating occasional asset write-downs.
Tax and Liability Expenses
Taxes Other Than Income Taxes
Non-income taxes increased sharply starting in late 2020, peaking in 2022, before moderating but remaining high in 2023 and early 2024.
Accretion on Discounted Liabilities
Accretion expenses were stable with a slight increasing trend over the period.
Profitability
Operating Income
Operating income shifted from negative in early 2020 to strong positive values throughout 2021 and 2022, peaking in early 2022. This was followed by a decline in operating income during 2023, with a recovery in early 2024.
Net Income
Net income mirrored operating income trends, exhibiting initial losses in 2020, followed by robust profitability in the following years, peaking in early 2022. Net income declined during 2023, with a recovery tendency emerging in 2024.
Income Tax Provision
Income tax provision was negative in early 2020, then became a significant charge from 2021 onwards, reflecting higher profitability in those periods, with some variability but remaining a considerable expense.
Other Factors
Interest and Debt Expense
Interest expenses remained relatively stable throughout the period, with minor fluctuations.
Foreign Currency Transactions
Foreign currency transaction gains and losses fluctuated without a clear trend, occasionally impacting results positively or negatively.
Other Expenses
Other expenses were inconsistent, with occasional significant negative spikes that could indicate one-time costs or adjustments.