ConocoPhillips (COP) Tops Q1 EPS by 57c
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ConocoPhillips Reports First-Quarter 2022 Results; Announces Increase in Planned 2022 Return of Capital to $10 Billion and Declares Quarterly Dividend and Variable Return of Cash Distribution
May 5, 2022 7:00 AM UTCHOUSTON--(BUSINESS WIRE)-- ConocoPhillips (NYSE: COP) today reported first-quarter 2022 earnings of $5.8 billion, or $4.39 per share, compared with first-quarter 2021 earnings of $1.0 billion, or $0.75 per share. Excluding special items, first-quarter 2022 adjusted earnings were $4.3 billion, or $3.27 per share, compared with first-quarter 2021 adjusted earnings of $0.9 billion, or $0.69 per share. Special items for the current quarter were primarily comprised of a tax benefit related to closure of an audit, a gain associated with the Indonesia divestiture and a gain on Cenovus Energy (CVE) equity.
In addition, ConocoPhillips today announced a $2 billion increase in expected 2022 returns of... More
