---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-000730"
form_type: "8-K"
ticker: "COP"
cik: "0001163165"
company_name: "CONOCOPHILLIPS"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T20:37:01.796521+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ConocoPhillips Q1 net income $2.9B ($2.38/sh) vs $5.8B a year ago; raises production guidance

## Summary
- GAAP and adjusted EPS both $2.38/share, down from $4.39 and $3.27 in Q1 2022.
- Record total production 1,792 MBOED (+45 MBOED YoY); Lower 48 record 1,036 MBOED.
- Average realized price $60.86/BOE, 21% lower than $76.99/BOE in Q1 2022.
- Raised full-year production guidance midpoint to 1.78-1.80 MMBOED from 1.76-1.80 MMBOED.
- Distributed $3.2B to shareholders: $1.7B buybacks, $1.5B dividends & VROC ($0.51+$0.60/sh).

## SEC filing metadata
- accession: 0001157523-23-000730
- form_type: 8-K
- ticker: COP
- cik: 0001163165
- company_name: CONOCOPHILLIPS
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163165/000115752323000730/0001157523-23-000730-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163165/000115752323000730/a53392156.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-000730
- JSON: https://secwatch.observer/filing/0001157523-23-000730.json
- Plain text: https://secwatch.observer/filing/0001157523-23-000730.txt

## Key facts
- Earnings Releases
  CONOCOPHILLIPS reported first-quarter 2023 results: net income $2.9 billion, EPS $2.38 per share. Guidance raised.
  - Period: first-quarter 2023
  - Net income: $2.9 billion
  - EPS: $2.38 per share
  - Guidance: raised
  - Result: reported results
  source text: On May 4, 2023 ConocoPhillips issued a press release announcing the company's financial and operating results for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163165/000115752323000730/0001157523-23-000730-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.