ConocoPhillips said its normalized net income for the third quarter came to a loss of 82 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 37 cents per share.
The per-share result swung to a loss from the prior-year profit of $1.31.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.02 billion, compared with income of $1.64 billion in the year-earlier period.
The normalized profit margin declined to negative 14.7% from 12.7% in the year-earlier period.
Total revenue decreased 42.0% on an annual basis to $7.49 billion from $12.91 billion, and total operating expenses declined 11.7% from the prior-year period to $8.93 billion from $10.12 billion.
Reported net income came to a loss of $1.08 billion, or a loss of 87 cents per share, compared with income of $1.63 billion, or $1.31 per share, in the prior-year period.