ConocoPhillips Reports Second-Quarter 2019 Results; Delivered Strong Free Cash Flow and Financial Returns; Raised 2019 Planned Share Buybacks

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Go back to ConocoPhillips Reports Second-Quarter 2019 Results; Delivered Strong Free Cash Flow and Financial Returns; Raised 2019 Planned Share Buybacks

ConocoPhillips (COP) Misses Q2 EPS by 2c

July 30, 2019 7:04 AM EDT

ConocoPhillips (NYSE: COP) reported Q2 EPS of $1.01, $0.02 worse than the analyst estimate of $1.03.

Second-Quarter Highlights

Cash provided by operating activities was $2.9 billion. Excluding working capital, cash from operations (CFO) of $3.4 billion exceeded capital expenditures and investments, generating free cash flow of $1.7 billion.Increased 2019 planned share repurchases to $3.5 billion.Repurchased $1.2 billion of shares and paid $0.3 billion in dividends in the second quarter; both funded entirely from free cash flow, representing a return of 47 percent of CFO to shareholders.Second-quarter production excluding Libya of 1,290 MBOED exceeded the high end of guidance;... More