RTTNews | Jul 30, 2020 07:47AM EDT

07:46 Thursday, July 30, 2020 (RTTNews.com) - ConocoPhillips (COP) on Thursday reported second-quarter net income of $0.3 billion or $0.24 per share, down sharply from $1.6 billion or $1.40 per share in the year-ago period.

Adjusted loss for the quarter was $0.92 per share, compared with adjusted earnings of $1.01 per share in the same period last year.

On average, analysts polled by Thomson Reuters expected the company to report loss of $0.58 per share for the quarter. Analysts' estimates typically exclude special items.

The company's production excluding Libya for the second quarter was 981 thousand barrels of oil equivalent per day or MBOED after curtailments of approximately 225 MBOED, resulting in a decrease of 309 MBOED from the same period a year ago.

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