Overview
- Adjusted earnings came in at $1.61 per share versus the $1.41 consensus, with revenue of $15.52 billion beating expectations of $14.63 billion.
- Company-wide production averaged 2.399 million boe/d, including 1.528 million boe/d in the Lower 48, with pro forma volumes up about 4% year over year.
- Average realized price fell 14% to $46.44 per boe, pressuring margins as reported EPS of $1.38 trailed consensus and net income declined 17% to $1.7 billion.
- The base quarterly dividend was lifted 8% to $0.84 per share, and the company repurchased $1.3 billion of stock.
- Management outlined preliminary 2026 plans for lower capital and operating costs with flat to modest growth and raised 2025 production guidance to 2.375 MMboe/d, guiding Q4 to 2.30–2.34 MMboe/d.