ExxonMobil tops Q3 profit and revenue estimates on higher margins

ExxonMobil (XOM) topped profit and revenue estimates for the third quarter, the company said on Oct. 30, as higher margins lifted adjusted earnings to $17.5 billion.

Shares rose 2.2% in regular trading as of 3:59 p.m. ET, from a regular-session close of $183.29.

The company reported earnings of $15.4 billion, or $3.72 per share, for the quarter. Adjusted earnings were $17.5 billion, or $4.23 per share, according to its results release.

Here’s how the company did:

• Adjusted EPS: $4.23 vs. $4.12 expected, according to Finnhub
• Revenue: $110.50 billion vs. $104.51 billion expected, according to Finnhub
• Net income: $15.41 billion vs. $7.55 billion a year earlier
• GAAP EPS: $3.72 vs. $1.76 a year earlier

Adjusted EPS topped the $4.12 consensus estimate compiled by Finnhub, and revenue topped the $104.51 billion estimate.

Sales and other operating revenue rose to $110.50 billion from $83.33 billion a year earlier.

Darren Woods, ExxonMobil chairman and chief executive officer, said in the release: “Quarter after quarter, the evidence of a stronger business builds.”

He added that the company is improving both the quality of its portfolio and its ability to optimize around it.

Segment results

Upstream adjusted earnings were $7.31 billion, down from $9.19 billion in the second quarter. The company cited lower prices and an accelerated Guyana entitlement impact.

Energy Products adjusted earnings rose to $9.05 billion from $4.10 billion. The release credited higher margins and 100% crude unit utilization at the U.S. Gulf Coast refineries.

Chemical Products adjusted earnings were $725 million, down from $1.21 billion. Specialty Products adjusted earnings rose to $1.28 billion from $969 million.

Upstream production was 4,496 thousand oil-equivalent barrels per day, down from 4,514 in the second quarter.

Cash and capital returns

Cash flow from operating activities was $25.7 billion and free cash flow was $19.1 billion.

Shareholder distributions totaled $9.4 billion, including $4.3 billion of dividends and $5.1 billion of share repurchases.

The company declared a fourth-quarter dividend of $1.07 per share, payable on Dec. 10, 2026, to shareholders of record at the close of business on Nov. 16, 2026.

The release said the company has increased its annual dividend per share for 44 consecutive years, a longer streak than 95% of S&P 500 companies.

The company announced 2027 share repurchases of $20 billion, assuming reasonable market conditions.

Net debt was $22.1 billion as of Sept. 30, 2026, after nearly $11 billion of year-to-date net debt reduction.

Costs and charges

Identified items totaled $449 million in the quarter, including a $675 million gain on sale of assets.

Structural cost savings since 2019 total $16.9 billion, including an additional $1.8 billion in the first nine months of 2026, according to the release.