EarningsQ2 2026 Earnings Report
MX:XOM Q2 2026 EPS Results
Actual EPS$64.40
Consensus EPS$65.04
Beat/MissMissed by -$0.64
One Year Ago EPS$30.00
MX:XOM Q2 2026 Revenue Results
Actual Revenue$2.07T
Expected Revenue$2.01T
Beat/MissBeat by +$56.57B
YoY Revenue Growth+43.14%
Earnings Announcement Details
QuarterQ2 2026
Date07/31/2026
TimeBefore Open
Conference CallFriday, July 31, 2026
MX:XOM Upcoming Earnings
Exxon Mobil's next earnings date is estimated for October 23, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:XOM Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong net-positive operational and financial picture: record and industry-leading financial metrics, material cash-flow generation, major upstream successes (notably Guyana), Permian production and technology gains, robust refining and specialty product performance, and sizable structural cost savings and organizational integration. Key challenges include the ongoing Middle East conflict (temporary ~10% upstream loss), supply-chain and logistics constraints, regional political/regulatory risks (European windfall tax risk), and some entitlement/acreage uncertainty in Guyana. Overall the positive operational execution, cash generation and cost transformation substantially outweigh the headwinds.Company Guidance
Strong Quarterly Financial Performance
Reported industry-leading earnings of $14.5 billion, cash flow from operations of $23.6 billion, and free cash flow of more than $17 billion; reduced net debt by more than $7 billion; cash capital expenditures were roughly $7 billion; returned over $9 billion to shareholders via dividends and share repurchases.
Upstream Resilience and Guyana Outperformance
Excluding the Middle East, upstream delivered the highest production volumes in over two decades; Guyana produced approximately 900,000 barrels per day gross in the quarter; fifth FPSO (Errea Wittu) en route and on track for start-up by year-end; project execution drove recovery of capital and costs nearly two years earlier than anticipated (fully recovering ~$55 billion of investment), with FPSO reliability above 98%.
Permian Production Record and Technology Gains
Permian set a production record of more than 1.8 million oil-equivalent barrels per day in the quarter; drilled more than 80 four-mile laterals in the first half (83 YTD), and since 2020 have 1,200 wells >3 miles vs ~400 for nearest competitor, supporting superior capital efficiency, improved recovery and lower capital cost through scaled technology deployment.
Refining and Energy Products Strength
Integrated U.S. Gulf Coast refining ran reliably with >95% reliability in the quarter; record second-quarter diesel production; Energy Products' contribution to company business-line earnings rose from ~9% to ~23% over five years; global throughput up ~11% over three years and jet & diesel production up ~15% over the same period.
Chemical and Specialty Products Outperformance
Chemical product margins increased roughly 180% versus Q1 driven by advantaged North American feed and record first-half reliability; Specialty Products delivered best-ever basestock margins and record quarterly and first-half adjusted earnings; completed a 35 kT Proxxima expansion and FID'd the next larger blending plant expansion.
Material Structural Cost Savings and Organizational Transformation
Cumulative structural cost savings increased to $16.3 billion since 2019 with a plan to reach $20 billion by 2030; centralized organizations contributed nearly half of year-to-date savings; integrated upstream into a single global operations organization (~31,000 employees across 150+ sites) to drive operations excellence and further margin improvement.
Supply Chain Optimization and Disruption Mitigation
Global trading and supply chain actions (modeling, fleet reallocations, reformulations and alternate sourcing) helped avoid roughly $750 million in annual disruption cost and kept operations running during tight logistics and localized disruptions.
Strategic Governance Move Completed
Shareholders overwhelmingly approved redomiciling ExxonMobil from New Jersey to Texas, completed July 1, aligning legal domicile with headquarters and expected to provide governance efficiencies.
MX:XOM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed