Key Highlights

● GAAP earnings were $14.5 billion, or $3.48 per diluted share.

● Excluding identified items, earnings were $14.7 billion, or $3.52 per share.

● ExxonMobil Holdings became the publicly held parent on 1 July 2026.

● Cash flow from operating activities was $23.6 billion, with free cash flow of $17.2 billion.

ExxonMobil Holdings Corporation (NYSE:XOM), a Texas corporation, became the publicly held parent on 1 July 2026 through a redomiciliation merger, succeeding Exxon Mobil Corporation of New Jersey as registrant. Its filing says the new company replaced ExxonMobil as the corporation traded on the New York Stock Exchange, and that its common stock, par value $0.001 per share, would trade under the symbol XOM from 2 July 2026. The filing does not discuss index treatment. Secondary sources list the stock in the S&P 500. Investors therefore hold the same ticker in a newly incorporated parent.

Second-quarter earnings

For the second quarter of 2026, reported on 31 July, ExxonMobil posted GAAP earnings of $14.5 billion, or $3.48 per diluted share, compared with $4.2 billion, or $1.00, in the first quarter. Excluding identified items, earnings were $14.7 billion, or $3.52 per share. The identified items totalled $2.6 billion unfavourable and included $1.08 billion of impairments, $1.36 billion of additions to financial reserves and $194 million of Middle East impacts. For the first half, GAAP earnings were $18.7 billion and adjusted earnings $23.5 billion. Adjusted segment earnings were $9.19 billion in Upstream, $4.1 billion in Energy Products, $1.21 billion in Chemical Products and $969 million in Specialty Products, with Corporate and Financing at a loss of $791 million. First-quarter GAAP earnings had been depressed by estimated timing effects of $3.9 billion and hedge losses linked to Middle East supply disruption.

Production and projects

Total production was 4,514 thousand oil-equivalent barrels per day, down from 4,594 in the first quarter. Permian output set a record of more than 1.8 million oil-equivalent barrels per day, consistent with the company's plan for 9 per cent compound annual growth to 2030. The fifth floating production vessel for Guyana has set sail, with start-up planned for the fourth quarter of 2026 and 250 thousand barrels per day of added capacity. The company also reported record second-quarter diesel production and a final investment decision on a 120 thousand tonne per year Proxxima blending expansion in Louisiana. Trade press attributed the stronger result partly to higher oil prices, with Middle East disruption partly offsetting the gain; the company's own release cites the region as affecting Upstream and Specialty Products.

Cash flow and shareholder returns

Cash flow from operating activities was $23.6 billion in the quarter, and free cash flow was $17.2 billion. Cash capital expenditure was $6.8 billion, or $13.0 billion for the half year, compared with the first-quarter statement of full-year guidance of $27 billion to $29 billion. Shareholder distributions in the quarter were $9.4 billion, comprising $4.3 billion of dividends and $5.1 billion of share repurchases. A third-quarter dividend of $1.03 per share was payable on 10 September to holders of record on 17 August. Cumulative structural cost savings against 2019 reached $16.3 billion. The first-quarter release set a 2026 repurchase plan of $20 billion, subject to market conditions. In the first quarter, Guyana output exceeded 900 thousand gross barrels per day, and Golden Pass Train 1 delivered first LNG.

Volatile Prices, Middle East Disruption and Wide Quarterly Swings

The release gives no numerical earnings or production guidance. The cautionary statement lists volatile prices and margins, Middle East and wider geopolitical disruption, sanctions and regulatory change, currency and interest rates, project start-up delays, operational disruption and access to debt markets. The large cash flow in the second quarter followed a quarter in which timing effects and hedge losses weighed on earnings, so quarterly figures can swing widely.