ExxonMobil Holdings Corp (XOM): Results of Operations and Financial Condition
ExxonMobil Holdings Corp (XOM) filed an SEC Form 8-K — Results of Operations and Financial Condition. 1 EXHIBIT 99.1 2Q 2026 Earnings Release FOR IMMEDIATE RELEASE July 31, 2026 ExxonMobil Announces Second-Quarter 2026 Results Advantaged portfolio, integration, and structural savings support earnings and cash flow in volatile market • Reported EPS of $3.48 , or $3.52 adjusted EPS
How this was made
The 30-second read
Why it matters
Traders can use the preliminary EPS, net income, dividends, and cash flow to update short-term earnings estimates and model sensitivities to crude, gas, and refining margins.
Market read
Fresh preliminary 2Q26 financial and operating benchmark data can move expectations for integrated oil earnings, especially for model-based traders tracking realizations and margins.
What to watch
Cash flow and working-capital movements (operating cash flow $32,260 million for 6M26) may matter more than headline EPS for near-term quality-of-earnings positioning.
2Q26 net income attributable to ExxonMobil was 14,525 million, versus 7,082 million in 2Q25, as total revenues and other income were 116,017 million versus 81,506 million.
Reported 2Q26 revenue, net income attributable to ExxonMobil, and diluted EPS were materially higher than 2Q25, while worldwide oil-equivalent production was lower sequentially and worldwide natural-gas production was lower year to date.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Sales and other operating revenueGAAP | 114,529 | – | – |
| Income from equity affiliatesGAAP | 893 | – | – |
| Other incomeGAAP | 595 | – | – |
| Total revenues and other incomeGAAP | 116,017 | – | – |
| Crude oil and product purchasesGAAP | 67,801 | – | – |
| Production and manufacturing expensesGAAP | 12,250 | – | – |
| Selling, general and administrative expensesGAAP | 2,483 | – | – |
| Depreciation and depletion (includes impairments)GAAP | 8,689 | – | – |
| Exploration expenses, including dry holesGAAP | 155 | – | – |
| Non-service pension and postretirement benefit expenseGAAP | 32 | – | – |
| Interest expenseGAAP | 227 | – | – |
| Other taxes and dutiesGAAP | 4,956 | – | – |
| Total costs and other deductionsGAAP | 96,593 | – | – |
| Income/(Loss) before income taxesGAAP | 19,424 | – | – |
| Income tax expense/(benefit)GAAP | 4,543 | – | – |
| Net income/(loss) including noncontrolling interestsGAAP | 14,881 | – | – |
| Net income/(loss) attributable to noncontrolling interestsGAAP | 356 | – | – |
| Net income/(loss) attributable to ExxonMobilGAAP | 14,525 | – | – |
| Earnings per common share (U.S. dollars)GAAP | 3.48 | – | – |
| Earnings per common share - assuming dilution (U.S. dollars)GAAP | 3.48 | – | – |
| Dividends on common stock, totalother | 4,299 | – | – |
| Dividends on common stock, per common share (U.S. dollars)other | 1.03 | – | – |
| Average common shares outstanding - assuming dilutionother | 4,174 million | – | – |
| Effective Income Tax Rate, %GAAP | 24 % | – | – |
| Oil-equivalent production (koebd)other | 4,514 | – | – |
| Worldwide refinery throughput, thousand barrels per day (kbd)other | 3,562 | – | – |
| Worldwide Energy Products sales, thousand barrels per day (kbd)other | 5,698 | – | – |
| Worldwide Chemical Products sales, thousand metric tons (kt)other | 4,471 | – | – |
| Worldwide Specialty Products sales, thousand metric tons (kt)other | 1,784 | – | – |
| Net cash provided by operating activities, six months ended June 30GAAP | 32,260 | – | – |
| Additions to property, plant, and equipment, six months ended June 30GAAP | (12,997) | – | – |
| Net cash used in investing activities, six months ended June 30GAAP | (12,325) | – | – |
| Net cash provided by (used in) financing activities, six months ended June 30GAAP | (19,865) | – | – |
Capital returns
- Cash dividends to ExxonMobil shareholders were 8,633 for the six months ended June 30, 2026, versus 8,623 for the six months ended June 30, 2025.
- Common stock acquired was (10,007) for the six months ended June 30, 2026, versus (9,768) for the six months ended June 30, 2025.
- Dividends on common stock were 4,299 in 2Q26, or 1.03 per common share, versus 4,288, or 0.99 per common share, in 2Q25.
- Common shares outstanding at quarter end were 4,112 million in 2Q26, versus 4,145 million in 1Q26.
What drove it
- United States ExxonMobil crude realization was 97.58 $/b in 2Q26, versus 70.12 $/b in 1Q26.
- Non-U.S. ExxonMobil crude realization was 92.42 $/b in 2Q26, versus 69.98 $/b in 1Q26.
- Energy Products Indicative Refining Margin was 29.0 $/b in 2Q26, versus 16.3 $/b in 1Q26.
- North American Polyethylene was 1,454 $/T in 2Q26, versus 965 $/T in 1Q26.
- Worldwide crude oil, natural gas liquids, bitumen and synthetic oil production was 3,373 thousand barrels per day in 2Q26, versus 3,297 thousand barrels per day in 1Q26 and 3,335 thousand barrels per day year to date 2026, versus 3,201 thousand barrels per day year to date 2025.
- Worldwide natural gas production available for sale was 6,849 million cubic feet per day in 2Q26, versus 7,779 million cubic feet per day in 1Q26 and 7,311 million cubic feet per day year to date 2026, versus 8,344 million cubic feet per day year to date 2025.
Concerns
- United States ExxonMobil natural gas realization was 0.52 $/kcf in 2Q26, versus 3.37 $/kcf in 1Q26.
- Worldwide oil-equivalent production was 4,514 koebd in 2Q26, versus 4,594 koebd in 1Q26.
- Chemical Products sales were 4,471 thousand metric tons worldwide in 2Q26, versus 5,358 thousand metric tons in 1Q26.
- Specialty Products sales were 1,784 thousand metric tons worldwide in 2Q26, versus 1,976 thousand metric tons in 1Q26.
- Cash and cash equivalents declined to 10,588 at June 30, 2026, from 10,681 at December 31, 2025.
What to watch
- Upstream volumes and realizations may be adjusted when full statements on joint venture operations are received from outside operators.
- ExxonMobil crude realizations, natural-gas realizations, and the Energy Products Indicative Refining Margin.
- Worldwide natural-gas production, particularly Asia production of 1,274 million cubic feet per day in 2Q26 versus 2,500 million cubic feet per day in 1Q26.
- Chemical Products and Specialty Products sales volumes.
- Capital spending, which was additions to property, plant, and equipment of (12,997) for the six months ended June 30, 2026.
Balance sheet and cash flow
- Cash and cash equivalents were 10,588 at June 30, 2026, versus 10,681 at December 31, 2025.
- Notes and accounts receivable – net were 60,558 at June 30, 2026, versus 44,562 at December 31, 2025.
- Total assets were 464,482 at June 30, 2026, versus 448,980 at December 31, 2025.
- Notes and loans payable were 10,139 at June 30, 2026, versus 9,296 at December 31, 2025.
- Long-term debt was 32,229 at June 30, 2026, versus 34,241 at December 31, 2025.
- Total liabilities were 198,371 at June 30, 2026, versus 182,354 at December 31, 2025.
- Total equity was 266,111 at June 30, 2026, versus 266,626 at December 31, 2025.
- Changes in operational working capital, excluding cash and debt, were (3,857) for the six months ended June 30, 2026, versus (4,848) for the six months ended June 30, 2025.
- Cash and cash equivalents at end of period (including restricted) were 10,588 for the six months ended June 30, 2026, versus 15,711 for the six months ended June 30, 2025.
Analysis
ExxonMobil reported substantially higher 2Q26 financial results versus 2Q25. Total revenues and other income were 116,017 versus 81,506, while net income attributable to ExxonMobil was 14,525 versus 7,082. Diluted earnings per common share were 3.48 versus 1.64. Costs and other deductions were 96,593 versus 70,801, including crude oil and product purchases of 67,801 versus 45,327.
The reported market data showed a stronger sequential pricing backdrop for crude and refining. United States ExxonMobil crude realization was 97.58 $/b versus 70.12 $/b in 1Q26, and non-U.S. crude realization was 92.42 $/b versus 69.98 $/b. The Energy Products Indicative Refining Margin was 29.0 $/b versus 16.3 $/b. This was offset in part by United States natural gas realization of 0.52 $/kcf versus 3.37 $/kcf.
Operationally, worldwide oil-equivalent production was 4,514 koebd in 2Q26 versus 4,594 koebd in 1Q26. Worldwide crude oil, natural gas liquids, bitumen and synthetic oil production rose to 3,373 thousand barrels per day from 3,297 thousand barrels per day, whereas worldwide natural-gas production available for sale fell to 6,849 million cubic feet per day from 7,779 million cubic feet per day. Worldwide refinery throughput increased to 3,562 thousand barrels per day from 3,494 thousand barrels per day. Energy Products sales increased to 5,698 thousand barrels per day from 5,630 thousand barrels per day, while Chemical Products and Specialty Products sales were lower sequentially.
Cash flow from operating activities was 32,260 for the six months ended June 30, 2026, versus 24,503 in the prior-year period. Additions to property, plant, and equipment were (12,997), and common stock acquired was (10,007). Cash dividends to ExxonMobil shareholders were 8,633. Cash and cash equivalents were 10,588 at June 30, 2026, compared with 10,681 at December 31, 2025, while long-term debt was 32,229 compared with 34,241. The filing provided no forward guidance.
Not in the filing
stated, not guessed- Forward guidance was not provided.
- Previous-release outlook was not provided.
- Gross margin was not reported.
- Operating income was not reported.
- 2Q26 non-GAAP adjusted earnings and non-GAAP adjusted EPS were not reported.
- 2Q26 free cash flow was not reported.
- Current-period segment revenue was not reported.
- Current-period segment earnings were not provided in the supplied filing text.
- A named executive earnings commentary or quote was not provided in the supplied filing text.
- Percentage changes for reported income-statement metrics were not printed.
- Prior-quarter comparisons for total revenue, net income attributable to ExxonMobil, and diluted EPS were not printed.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
The SEC 8-K (Item 2.02) attaches an Exhibit 99.2 investor relations data summary for 2Q26 results, including preliminary income statement, balance sheet, cash flow, and operating/realization drivers.
Ticker impact
ExxonMobil filed an 8-K with preliminary 2Q26 results, including EPS of $3.48 and net income attributable to ExxonMobil of $14,525 million.
Moderate two-sided reaction risk, depending on how these preliminary figures compare with Street expectations and prior quarter trends.
This is a primary SEC filing with concrete income statement, balance sheet, and cash flow figures, but the excerpt does not include guidance or explicit variance vs consensus, limiting directional conviction.
Market effects
New upstream realization and refining margin inputs can influence near-term sentiment for integrated oil and gas earnings power.
Limited direct regional read-through beyond US-listed energy complex.
Global oil and gas pricing sensitivity is reflected via crude and gas realization benchmarks, relevant to international peers’ earnings models.
Counterpoint
Because the figures are labeled preliminary and the excerpt lacks explicit guidance or consensus deltas, traders may treat this as incremental rather than decisive.
Key entities
- issuerExxonMobil Holdings Corp
Subject of the 8-K filing with preliminary 2Q26 financial results and operating driver tables.
