Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $19,256 | $48,349 | $78,494 | $56,141 | $54,745 |
| Gross Profit | $11,178 | $30,191 | $44,523 | $34,166 | $34,733 |
| Operating Income | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2,701 | $8,079 | $18,680 | $10,957 | $9,245 |
Over the past five years, ConocoPhillips’ income statement reflects a period of significant volatility, followed by rapid recovery and moderate contraction. The company’s revenue surged from approximately $19.3 billion in 2020 to nearly $48.3 billion in 2021—a remarkable increase of over 150%—likely reflecting recovery from the pandemic-induced downturn and improved market conditions in the energy sector. In 2022, revenues peaked at about $78.5 billion, further bolstered by a recovery in energy demand and rising commodity prices. However, in the subsequent two years, revenue contracted to roughly $56.1 billion in 2023 and $54.7 billion in 2024, signaling a potential recalibration or challenges within a volatile market environment. Gross profit trends mirrored revenue movements, rising steadily from $11.2 billion in 2020 to a high of $44.5 billion in 2022 before diminishing in subsequent years to around $34.7 billion by 2024. Meanwhile, net income showed a dramatic turnaround: a loss of $2.7 billion in 2020 shifted to a profit of $8.1 billion in 2021 and peaked at $18.7 billion in 2022, before falling to $11.0 billion and $9.2 billion in 2023 and 2024 respectively—a significant year-over-year swing exceeding 20% after 2022. The consistent absence of reported operating income suggests that the data may require further context or clarification regarding what costs are included at that level. Overall, while the company rebounded strongly from the 2020 downturn with robust profit margins in 2021–2022, the recent contraction in revenues and net income warrants a closer examination of operational and market factors to assess the sustainability of its long-term financial health.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.