Exxon Mobil (XOM) Q3 2026 Earnings Report
MX:XOM Q3 2026 EPS Results
- Actual EPS
- MXN 79.49
- Consensus EPS
- MXN 77.46
- Beat/Miss
- Beat by +MXN 2.03
- One Year Ago EPS
- MXN 35.33
MX:XOM Q3 2026 Revenue Results
- Actual Revenue
- MXN 2.08T
- Expected Revenue
- MXN 1.97T
- Beat/Miss
- Beat by +MXN 105.48B
- YoY Revenue Growth
- +32.56%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/30/2026
- Time
- Before Open
- Conference Call
- Friday, October 30, 2026
MX:XOM Upcoming Earnings
Exxon Mobil's next earnings date is estimated for February 2, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:XOM Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, emphasizing record or improved operating performance, strong earnings and cash generation, balance-sheet strength, continued production growth, cost savings, project execution and shareholder returns. The principal challenges were external and operational, including Middle East-related supply and logistics disruptions, uncertain refining-market normalization, project execution hurdles and regulatory or geopolitical complexities in several regions.
Company Guidance
ExxonMobil expects Uaru to start up in the fourth quarter; its U.S. Gulf Coast asset reconfiguration projects are expected to increase distillate yield by about 100,000 barrels per day, with additional phases planned across U.S. manufacturing sites; automated drilling rigs are expected to expand to about 25% of the Permian fleet next year and approximately half by 2028; structural cost savings are on track to reach $20 billion of cumulative savings by 2030; global energy demand is projected to continue to grow through 2050, with oil and natural gas supplying more than half of the world's energy; share repurchases are planned at $20 billion in 2027, assuming reasonable market conditions; Golden Pass Train 2 is expected to be substantially complete by December, with Train 3 expected to achieve mechanical completion in mid-2027; Rovuma LNG is still expected to reach FID in the back end of this year and close it by the end of the year; refining markets are expected to remain affected well through next year, but it could be longer than that; and the Middle East is expected to have a 350 kbd impact in 4Q, unchanged.
- Strong Earnings and Cash FlowExxonMobil reported $15.4 billion of GAAP earnings and $25.7 billion of cash flow from operations in the third quarter.
- Significant Shareholder Returns and Dividend IncreaseThe company invested $7 billion in the business and returned $9.4 billion to shareholders through dividends and share repurchases. It announced a 4% increase in dividend per share, marking the 44th consecutive year of annual dividend per share growth, and plans to maintain share repurchases at $20 billion in 2027 assuming reasonable market conditions.
- Balance Sheet StrengthNet debt was reduced by more than $9 billion during the quarter. Management said net debt to capital is the strongest in the industry, with the possible exception of one large-cap industrial company.
- Refining Scale and Record UtilizationExxonMobil runs about 3.6 million barrels of crude through its refineries each day and sells about 5.7 million barrels of gasoline, diesel and other finished products globally. Year-to-date diesel production was roughly 1.1 million barrels per day, and global fuels-manufacturing utilization excluding Middle East impacts was at its highest level on record. Gulf Coast refineries operated at around 100% crude-unit utilization, while overall refinery utilization was around 84%.
- Refining Investments Improving Diesel and Product MarginsDiesel yield was about 3.5% higher than in 2019, representing another $1.5 billion of quarterly margins or $3.5 billion on a year-to-date basis. Since 2019, Energy Products unit earnings per barrel on a constant-price-and-margin basis have tripled, driven by improved volume and mix combined with lower structural costs.
- Expansion of Gulf Coast Manufacturing CapacityThe U.S. Gulf Coast asset-reconfiguration projects are expected to increase distillate yield by about 100,000 barrels per day. The first phase is underway at Baytown, with additional phases planned across U.S. manufacturing sites to increase diesel, lubricant and chemical-feedstock yields. Management said investments at existing sites can bring on capacity at roughly half the cost of a grassroots facility.
- Long-Term Investment and Cost SavingsExxonMobil has invested more than $200 billion over the past decade. Structural cost savings since 2019 reached $16.9 billion, putting the company on track toward $20 billion of cumulative savings by 2030.
- Upstream Production GrowthExcluding Middle East impacts, production volumes were up year-over-year, supported by continued growth in the Permian and Guyana.
- Guyana Milestone and Additional DevelopmentProduction from the Stabroek Block in Guyana surpassed 1 billion barrels of oil just 11 years after discovery, faster than any other major offshore development; the closest comparable development took roughly 3 years longer. ExxonMobil expects its fifth development, Uaru, to start up in the fourth quarter.
- Expansion of LNG PortfolioCumulative LNG production in Papua New Guinea surpassed 100 million tons, with the Papua LNG project on track for further growth after ExxonMobil agreed to increase its working interest and assume operatorship. In Mozambique, an agreement with Eni will increase ExxonMobil's operated interest in Rovuma LNG to 50% and exit its nonoperated acreage position.
- Progress in Low-Carbon SolutionsExxonMobil received approval for the Rose Carbon Storage Project and began carbon-capture-and-storage operations for Nucor. This was the company's third CCS startup for a third-party customer and its second such startup this year. The company also has 11 million metric tons per annum under contract across 8 customers through its CCS business.
- Methane-Intensity ReductionSince 2016, ExxonMobil has reduced methane intensity by more than 60% and recently received Gold Standard recognition from the United Nations' Oil and Gas Methane Partnership.
- Deployment of Automated Drilling TechnologyExxonMobil has 3 automated drilling rigs operating in the Permian. Management said they are significantly improving safety and delivering some of the strongest drilling performance in the fleet. The company expects automated rigs to represent about 25% of its Permian fleet next year and approximately half by 2028, helping grow U.S. production safely and at a lower cost.
- Permian Execution and Recovery PotentialThe Permian program has made good, steady progress and achieved its year-end production guidance ahead of schedule. Management said there is a line of sight to its challenge of doubling recovery, with secondary-recovery technologies being developed as part of the effort; the more material benefits from secondary recovery are expected in the outer years beyond 2030.
- Trading and Supply-Chain OptimizationTrading and optimization volumes are 4x their 2019 level. Management said global supply-chain and trading teams secured feedstocks, redirected molecules and moved products where they were most needed as markets shifted, using trading to maximize the value of ExxonMobil's integrated assets.
- Golden Pass LNG ProgressGolden Pass Train 1 made good progress after ExxonMobil took over following the bankruptcy of a contractor. Train 2 was expected to be substantially complete by December with facility commissioning beginning, and mechanical completion for Train 3 was expected in mid-2027.
- Long-Term Growth PipelineManagement said the company has a strong portfolio of projects expected to contribute beyond 2030. Exploration has received about $1 billion per year of investment over the last 5 years, with discoveries in Guyana, Angola and Cyprus. Product Solutions growth opportunities include diesel, graphite materials and Proxxima systems.
- Acquisition Synergies and Project ExecutionThe company said synergies from the Pioneer acquisition increased from $2 billion to $4 billion per year. Global Projects is executing twice the number of mega-projects of any of its international oil company peers, with projects delivered at 20% lower cost and 20% faster scheduled time.
- Encouraging Rovuma Development OutlookExxonMobil continued working with partners and the government to advance a final investment decision for Rovuma LNG, which it still expected to reach by the end of the year. Management said combining the upstream and downstream portions could improve capital efficiency, although those benefits had not yet been quantified.
- Supportive European Methane-Regulation DelayThe European Parliament voted to delay implementation of the EU Methane Regulation by 3 years, giving the global industry more time to implement compliance systems after the required implementation steps are defined.
MX:XOM Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 02, 2027 | 2026 (Q4) | 76.35- | 32.13 | ― | ― |
| Oct 30, 2026 | 2026 (Q3) | 77.4679.49 | 35.33 | 125.00% (+44.16) | |
| Jul 31, 2026 | 2026 (Q2) | 66.8166.15 | 30.82 | 114.63% (+35.33) | |
| May 01, 2026 | 2026 (Q1) | 18.4921.80 | 33.07 | -34.09% (-11.28) | |
| Jan 30, 2026 | 2025 (Q4) | 31.9532.13 | 31.38 | 2.40% (+0.75) | |
| Oct 31, 2025 | 2025 (Q3) | 34.2435.33 | 36.08 | -2.08% (-0.75) | |
| Aug 06, 2025 | 2025 (Q2) | 29.4730.82 | 40.21 | -23.36% (-9.40) | |
| May 02, 2025 | 2025 (Q1) | 32.8133.07 | 38.71 | -14.56% (-5.64) | |
| Jan 31, 2025 | 2024 (Q4) | 29.1831.38 | 46.6 | -32.66% (-15.22) | |
| Nov 01, 2024 | 2024 (Q3) | 35.2536.08 | 42.66 | -15.42% (-6.58) |
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
