Key Highlights

  • Earnings reached USD 15.4 billion, or USD 3.72 per share, versus USD 1.76 per share a year earlier.
  • Operating cash flow was USD 25.7 billion, with USD 7 billion invested and USD 9.4 billion returned to shareholders.
  • The Dividend rises 4%, a 44th consecutive annual increase, and 2027 Buybacks stay at USD 20 billion.
  • Guyana's Stabroek Block passed 1 billion barrels of output, and Uaru, the fifth development, is due in the fourth quarter.

Earnings More Than Double

Exxon Mobil Corporation (NYSE:XOM) reported third-quarter 2026 Net Income attributable to the company of USD 15,413 million, compared with USD 7,548 million a year earlier. Earnings per share were USD 3.72, against USD 1.76. Total revenues and other income were USD 113.2 billion versus USD 85.3 billion. Nine-month earnings reached USD 34.1 billion, or USD 8.18 per share, up from USD 22.3 billion, or USD 5.16.

Chairman and chief executive Darren Woods said Middle East conflict continued to disrupt trade flows and constrain supplies of crude, diesel, gasoline and other finished products, producing short markets and higher prices.

Refining and Upstream Execution

The company runs about 3.6 million barrels of crude per day through its refineries and sells about 5.7 million barrels per day of finished products. Year to date it has produced roughly 1.1 million barrels per day of diesel, and global utilization of fuels facilities, excluding Middle East impacts, is at its highest level on record. Management said Energy Products earnings per barrel on a constant price and Margin basis are up threefold since 2019.

Excluding Middle East impacts, upstream volumes rose year over year on Permian and Guyana growth. Cumulative LNG production in Papua New Guinea passed 100 million tons, and the company agreed to raise its working interest in Papua LNG and take on operatorship. An agreement with Eni lifts the operated interest in Rovuma LNG in Mozambique to 50%.

Capital Returns and Investment Plans

The company invested USD 7 billion in the quarter and returned USD 9.4 billion through dividends and repurchases. It announced a 4% dividend increase, the 44th consecutive year of annual per-share growth, and plans to maintain repurchases at USD 20 billion in 2027, assuming reasonable market conditions. Structural cost savings since 2019 total USD 16.9 billion, with a target of USD 20 billion of cumulative savings by 2030.

Gulf Coast reconfiguration projects are designed to lift distillate Yield by about 100,000 barrels per day, with the first phase underway at Baytown. In the Permian, three automated drilling rigs are operating, with use planned to reach about 25% of the fleet next year and roughly half by 2028. The company also began carbon capture and storage operations for Nucor, its second third-party CCS startup this year.

Signposts for 2027 Planning

Rather than hosting a corporate plan event in December, management said it plans to reaffirm key 2027 planning metrics through a press release later this quarter, with further detail on the fourth-quarter call in late January. Woods also noted that the European Parliament voted to delay the EU Methane Regulation by three years. Items to follow include the Uaru startup, refining margins and execution at Baytown.