Results
3Q 2026 Earnings Release
FOR IMMEDIATE RELEASEOctober 30, 2026
ExxonMobil Announces Third-Quarter 2026 Results
Decade of disciplined investment delivering industry-leading results, supplying products society needs
Reported EPS of $3.72 , or $4.23 adjusted EPS 1
Record year-to-date refining operational performance: highest global fuels utilization excluding Middle East
impacts 2 ; highest global diesel yield 3 ; and highest North American diesel volumes 3
Achieved cumulative Upstream production milestones: 1 billion barrels at both Guyana and Kearl, 100 million tons
at PNG LNG
Solidified ExxonMobil's position as operator of choice in international upstream developments: assumed
operatorship at Papua LNG and reached agreement to increase working interest in LNG projects at Papua to
34% and Rovuma, Mozambique to 50%, where we are already the operator
7Reached 44 consecutive years of increases in annual dividends per share, longer streak than 95% of S&P 500
companies, and announced 2027 share repurchases of $20 billion 4
SPRING, Texas – October 30, 2026 – ExxonMobil Holdings Corporation today announced third -quarter 2026
earnings of $15.4 billion , or $3.72 per share.
Adjusted earnings were $17.5 billion , or $4.23 per share.
Cash flow
from operating activities was $25.7 billion and free cash flow was $19.1 billion .
Industry-leading shareholder
distributions totaled $9.4 billion , including $4.3 billion of dividends and $5.1 billion of share repurchases.
"In the third quarter, we continued to rise to the challenge of meeting global energy needs, drawing on unmatched
scale, integration, and technical capabilities,” said Darren Woods, ExxonMobil chairman and chief executive officer.
“We're increasing production while improving efficiency - the result of years of consistent and disciplined investment
and execution excellence.
On the U.S. Gulf Coast, investments such as our Beaumont refinery expansion have
1contributed to an increase in our distillate production by approximately 40% since 2019."
"Quarter after quarter, the evidence of a stronger business builds.
We're improving both the quality of our portfolio
and the ability to optimize around it.
2Advantaged investments, technology, and $16.9 billion in structural cost savings
3since 2019 are expanding our earnings power.
These are lasting improvements, not simply the result of favorable
prices and margins.
Markets will change, but we're positioned to continue supplying the energy and products the
world needs while delivering growth in long-term value for our shareholders."
Additional Highlights
Advanced CCS growth with startup at Nucor and approval for Rose carbon storage project
4Further strengthened balance sheet with nearly $11 billion of year-to-date net debt reduction 6
Declared a fourth-quarter dividend of $1.07 per share, payable on December 10, 2026, to shareholders of record
of common stock at the close of business on November 16, 2026
Year-to-date vs. prior year-to-date 7
Upstream earnings improved on higher prices, advantaged volume growth in Guyana, Permian, and Golden Pass
LNG, partly offset by Middle East volume impacts and higher non-cash expenses.
Ener gy Products earnings strengthened on higher margins, record year-to-date fuels utilization, excluding Middle
East impacts 2 , and strong optimization activities, partly offset by ext ernal impacts on operations an d scheduled
maintenance.
Chemical Products earnings improved on record reliability and increased North American feed advantage.
Specialty Products earnings increased with higher basestock margins and structural cost savings more than
offsetting external volume impacts and costs for advantaged growth.
Sequential quarter 7
Upstream earnings decreased driven by lower prices and accelerated Guyana entitlement impact.
6Energy Products earnings improved on higher margins, strong operational performance including 100% crude
unit utilization at our U.S. Gulf Coast refineries and the second-highest U.S. Gulf Coast diesel production on
record 3 , more than offsetting external impacts to our global capacity utilization.
Chemical Products earnings decreased as margins declined, partly offset by high-value product volume growth
driven by Asia Pacific seasonal demand.
Specialty Products earnings improved with higher basestock margins.
1 Assumes dilution.
2 Based on an as-reported asset basis, leveraging internal data available from 2014.
3 Based on current asset basis, leveraging internal data available from 2014.
4 Assuming reasonable market conditions.
85 Shareholder distributions compare IOCs' reported results or Bloomberg consensus as of October 28, 2026.
6 Net debt of $22.1 billion as of September 30, 2026, is total debt of $34.3 billion less $12.2 billion of cash and cash equivalents excluding restricted cash.
7 Comparative earnings commentary applies to both Earnings/(Loss) (U.S. GAAP) and Adjusted Earnings/(Loss) (non-GAAP) financial metrics, unless otherwise indicated.
Both metrics
share operational drivers but differ by adjusting items as described in the Adjusted Earnings/(Loss) definition on page 4.
on October 30, 2026 .
To listen to the event or access an archived replay, please visit www.exxonmobil.com .
Cautionary Statement
Statements related to future events; projections; descriptions of strategic, operating, and financial plans and objectives;
statements of future ambitions, future earnings power, potential addressable markets, or plans; and other statements of future
Similarly, discussion of future carbon capture, transportation
and storage, as well as lower-emission fuels, hydrogen and ammonia, lithium, direct air capture, Proxxima TM resin systems,
carbon materials, low-carbon data centers, and other low carbon and new business plans to reduce emissions of ExxonMobil,
its affiliates, and third parties, are dependent on future market factors, such as continued technological progress, stable policy
Actual future results, including
financial and operating performance; potential earnings, cash flow, or rate of return; total cash capital expenditures and mix,
including allocations of capital to low carbon and other new investments; realization and maintenance of structural cost
reductions and efficiency gains, including the ability to offset inflationary pressure; plans to reduce future emissions and
emissions intensity; ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050, to reach Scope 1 and 2
net zero in integrated Upstream Permian Basin unconventional operated assets by 2035, to eliminate routine flaring in-line with
World Bank Zero Routine Flaring, to reach near-zero methane emissions from operated assets and other methane initiatives,
and to meet ExxonMobil’s emission reduction goals and plans, divestment and start-up plans, and associated project plans as
well as technology advances, including the timing and outcome of projects to capture, transport, and store CO 2 , produce
hydrogen and ammonia, produce lower-emission fuels, produce lithium, produce Proxxima TM resin systems, produce carbon
materials, and use plastic waste as feedstock for advanced recycling; cash flow, dividends and shareholder returns, including
the timing and amounts of share repurchases; future debt levels and credit ratings; business and project plans, timing, costs,
capacities and returns; resource recoveries and production rates; maintenance and turnaround activity; drilling and improvement
programs; product sales levels and mix; and planned Pioneer and Denbury integrated benefits, could differ materially due to a
number of factors.
These include global or regional changes or imbalances in the supply and demand for oil, natural gas,
petrochemicals, and feedstocks and other market factors, economic conditions and seasonal fluctuations that impact prices,
differentials, margins, availability, and volume/mix for our products; changes in any part of the world in laws, taxes, or
regulations including extraterritorial environmental and tax regulations, trade sanctions, and timely granting of governmental
permits, licenses, and certifications; developments or changes in government policies supporting lower carbon and new market
investment opportunities or policies limiting the attractiveness of future investment such as the additional European taxes on the
energy sector and unequal support for different methods of emissions reduction; variable impacts of trading activities and
derivative positions, including timing effects, on our margins and results each quarter; changes in interest and exchange rates;
actions of co-venturers or partners, competitors and commercial counterparties, including suppliers and customers; the outcome
of commercial negotiations, including final agreed terms and conditions; the ability to access debt markets; the ultimate impacts
of public health crises, including the effects of government responses on people and economies; reservoir performance and
optimization, including variability and timing factors applicable to unconventional resources, the success of new unconventional
and AI-enhanced technologies, and the ability of new technologies to improve drilling performance and recovery relative to
competitors; the level, outcome, and timing of exploration projects and decisions to invest in future reserves and resources;
timely completion of development and other construction projects and commencement of start-up operations, including reliance
on third-party suppliers and service providers; final management approval of future projects and any changes in the scope,
terms, or costs of such projects as approved; government regulation of our growth opportunities; government actions in pursuit
of national energy and security policies or priorities affecting our business; closure of producing markets or reintroduction of
regional markets; war, civil unrest, armed hostilities, attacks against the company or industry and oth er political or security
disturbances, including disruption of land or sea transportation routes or distribution or shipping channels; expropriations,
seizures, or capacity, insurance, export, import or shipping limitations imposed directly or indirectly by governments or laws;
changes in market, national or regional tariffs or disruption, realignment or breaking of current or historical trade or military
alliances or global trade and supply chain networks; escalating geopolitical volatility, including regime changes; opportunities for
potential acquisitions, investments or divestments and satisfaction of applicable conditions to closing, including timely regulatory
approvals; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as
ongoing efficiencies without impairing our competitive positioning; unforeseen technical or operating disruptions or difficulties
and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies;
the results of research programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and
other factors discussed under Item 1A.
Risk Factors of ExxonMobil’s 2025 Form 10-K.
Actions needed to advance ExxonMobil’s 2030 greenhouse gas emission-reductions plans are incorporated into its medium-
term business plans, which are updated annually.
The reference case for planning beyond 2030 is based on ExxonMobil’s
Global Outlook (Outlook) research and publication.
The Outlook is reflective of the existing global policy environment and an
5assumption of increasing policy stringency and technology improvement to 2050.
Current trends for policy stringency and
deployment of lower-emission solutions are not yet on a pathway to achieve net-zero by 2050.
As such, the Outlook does not
project the degree of required future policy and technology advancement and deployment for the world, or ExxonMobil, to meet
net zero by 2050.
As future policies and technology advancements emerge, they will be incorporated into the Outlook, and
ExxonMobil's business plans will be updated accordingly.
References to projects or opportunities may not reflect investment
decisions made by ExxonMobil or its affiliates.
Individual projects or opportunities may advance based on a number of factors,
including availability of stable and supportive policy, permitting, technological advancement for cost-effective abatement,
insights from the corporate planning process, and alignment with our partners and other stakeholders.
Capital investment
guidance in lower-emission investments is based on our corporate plan; however, actual investment levels will be subject to the
availability of the opportunity set and public policy support, and focused on returns.
Frequently Used Terms and non-GAAP Measures
Adjusted Earnings/(Loss) (non-GAAP) and Adjusted Earnings/(Loss) Per Common Share (non-GAAP) • Earnings/(loss)
excluding individually significant non-operational events and estimated timing effects, both favorable and unfavorable.
Identified
items typically contribute to an absolute corporate total earnings impact of at least $250 million in a given quarter.
The earnings/
(loss) impact of an identified item for an individual segment may be less than $250 million when the item impacts several
periods or several segments.
Adjusted Earnings/(Loss) does include non-operational earnings events or impacts that are
generally below the $250 million threshold utilized for identified items.
When the effect of these events is significant in
aggregate, it is indicated in analysis of period results as part of quarterly earnings press release and teleconference materials.
Estimated timing effects excluded from Adjusted Earnings/(Loss) are primarily related to unsettled derivatives which are
required to be marked to current period-end prices (mark-to-market), where the associated physical shipments are not reflected
4 boilerplate lines (safe-harbor disclaimer, contacts, call details) are set aside.