Key Highlights

  • Exxon Mobil (NYSE:XOM) is expected to report EPS of USD 4.10 on about USD 105.4 billion of revenue before the open on October 30, 2026, according to published consensus.
  • Chevron (NYSE:CVX) is expected to report EPS of USD 4.86 on about USD 61.3 billion of revenue in the same pre-market window, a smaller revenue base but a higher profit estimate per share.
  • Brent is trading above USD 109, although published quotes differ by several dollars, so the oil price assumed by analysts may already be out of date.
  • Refiners sold off 8% to 10% on Tuesday, October 27, 2026, a reminder that high crude prices do not lift every part of the oil chain equally.

Exxon Mobil: Scale and Exposure

Exxon Mobil (NYSE:XOM) is forecast at EPS of USD 4.10 on revenue near USD 105.4 billion. The company combines production, refining and chemicals, so a high crude price helps its upstream earnings while a refiner selloff signals pressure on margins downstream. Investors will look at production volumes, refining margins and cash returns through dividends and buybacks. The date comes from a single earnings calendar, so it should be confirmed against the company's own notice. Analysts will also ask whether the disruption in the Strait of Hormuz has changed shipping costs, insurance and the timing of cargoes, because those items can shift reported margins. Capital spending plans, including new projects and the pace of share repurchases, are other areas where management commentary tends to move the stock.

Chevron: A Higher Estimate Per Share

Chevron (NYSE:CVX) is forecast at EPS of USD 4.86 on revenue near USD 61.3 billion. The estimate is higher per share than Exxon Mobil's because of differences in share count and earnings mix, not necessarily stronger operations. Its mix is weighted toward production, so it is more sensitive to the crude price, while a Houthi claim of an attack on Ras Tanura, as reported and not confirmed, adds supply-risk headlines. The company will also be asked about capital spending, buyback pace and any change to its production outlook, which often drive the share price more than the quarter itself. Dividend growth is another watched item, because oil majors are held by many income-focused investors and any change is closely read.

Risks and What to Watch

Crude quotes differ across published sources by up to about USD 6, so any price level in an analyst model deserves a check. The Federal Reserve decision on October 28, 2026 and a 10-year yield near 4.995% affect energy valuations, and a ceasefire or escalation in the Middle East could move crude sharply. Investors should watch refining margins, guidance for production, buybacks and commentary on Hormuz. Neither company has reported, and the consensus figures are approximate until results are released on October 30. Because the two companies report on the same morning, any divergence in their guidance for production, spending or buybacks may draw direct comparisons, and the market may reprice the group on the first to report.

Where Things Stand

The answer is that Exxon Mobil is forecast at USD 4.10 a share and Chevron (NYSE:CVX) at USD 4.86 for the quarter, with both reporting before the open on October 30, 2026. High crude prices and Hormuz disruption frame the results, while the refiner selloff shows the benefit is uneven across the oil chain. The numbers are consensus estimates from one calendar, not results. This is not investment advice.