ExxonMobil reported second-quarter 2026 net income of $14.5 billion and earnings per share of $3.48, according to an SEC Form 8-K filing dated July 31 (local time). Media outlets said scheduled refinery maintenance left the results slightly below Wall Street expectations.
📊 Price at time of writing (July 31, 2026, 11:05 PM KST)
$157.00 ▲ +0.16%
Earnings at a Glance
ExxonMobil's second-quarter net income came in at $14.5 billion, more than triple the $4.2 billion posted in the prior quarter. The jump reflects strong upstream production alongside a return to profitability in the refining segment. Refinery maintenance work, however, meant results still fell short of market expectations.
- Net income (GAAP): $14.5 billion, up more than 3x from the prior quarter
- Earnings per share (EPS): $3.48; adjusted EPS $3.52 — media reports said this came in slightly below Wall Street estimates
- Adjusted net income (excluding one-time items, non-GAAP): $14.7 billion
- Cash flow from operations: $23.6 billion; free cash flow (ex-capex): $17.2 billion
Outlook for Next Quarter
ExxonMobil set its third-quarter dividend at $1.03 per share, with a record date of August 17 and payment on September 10. The company's fifth Guyana floating production, storage and offloading (FPSO) vessel has departed for its offshore site; once it comes online in the fourth quarter, daily production capacity will rise by 250,000 barrels. ExxonMobil is maintaining its plan to grow Permian Basin production by an average of 9% per year through 2030, and says this year's capital spending plan is the highest among its refining and energy peers. Capital expenditure so far this year totals $13.0 billion.
Market Reaction
Bloomberg and other outlets reported that maintenance work in the Energy Products (refining) segment weighed on this quarter's results, leaving them slightly below Wall Street estimates. Even so, net income more than tripled from the prior quarter, and profits in the Chemical Products segment also improved. Barron's noted that while ExxonMobil posted its best results in years, that strength did not translate into a higher stock price — shares stood at $157.00 as of 11:05 PM KST on July 31, up just 0.16% from the previous close. The Washington Post reported that combined profits at ExxonMobil and Chevron reached $26.5 billion, prompting some lawmakers to raise concerns about excess profits. The Financial Times reported that both companies' profits rose sharply even as the Trump administration hinted at potential price intervention.
Results by Segment
- Upstream (oil and gas production): $7.9 billion, up from $5.7 billion in the prior quarter — Permian Basin output hit a record above 1.8 million barrels per day
- Energy Products (refining and marketing): $5.5 billion, swinging from a $1.3 billion loss in the prior quarter — driven by higher U.S. Gulf Coast utilization and expanded diesel output
- Chemical Products: $1.1 billion, sharply higher than $110 million in the prior quarter
- Specialty Products (lubricants and other specialty items): $956 million, up from $651 million in the prior quarter
This article was automatically generated based on the original SEC Form 8-K filing and media reports, with the goal of delivering key data quickly after the announcement. Readers are encouraged to review the company's official filing before making trading decisions. Prices reflect the time of writing and may differ from current levels.
