ConocoPhillips Q4 EPS Misses by 6 Cents, Cash Flow Reaches $4.3B
ConocoPhillips reported fourth-quarter adjusted EPS of $1.02, missing consensus by 6 cents and down from $1.98 a year earlier on weaker oil-equivalent prices. The company ended 2025 with $6.5 billion cash, $23.4 billion debt, generated $4.3 billion operating cash flow and spent $3 billion on capex.
1. Q4 Earnings Miss Consensus
ConocoPhillips reported fourth-quarter adjusted EPS of $1.02, six cents below consensus and down from $1.98 a year earlier, driven by lower realized oil-equivalent prices that were partially offset by higher production volumes.
2. Balance Sheet and Liquidity
As of December 31, 2025, the company held $6.5 billion in cash and equivalents against $22.4 billion of long-term debt and $1 billion of short-term debt, generating $4.3 billion in net cash from operations and spending $3 billion on capital expenditures.
3. Buy Recommendation Rationale
ConocoPhillips is highlighted as a top oil-stock pick for March due to low breakeven costs, projected strong free cash flow growth through 2030, and robust shareholder returns via consistent dividend increases and buybacks.