ExxonMobil reported third-quarter 2026 earnings of $15.4 Bn, up from $14.5 Bn in the previous quarter, supported by stronger refining margins and operational performance in its energy products business, according to the company’s financial results published on October 30.
Adjusted earnings rose to $17.5 Bn from $14.7 Bn in the second quarter (Q2), while adjusted earnings per share increased to $4.23 from $3.52.
Cash flow from operating activities reached $25.7 Bn, compared with $23.6 Bn in the previous quarter, while free cash flow increased to $19.1 Bn from $17.2 Bn.
ExxonMobil’s shareholder distributions totalled $9.4 Bn, comprising $4.3 Bn in dividends and $5.1 Bn in share repurchases.
The company also announced plans to repurchase $20 Bn of shares in 2027, subject to market conditions, and declared a Q4 dividend of $1.07 per share.
“We’re increasing production while improving efficiency,” said ExxonMobil Chairman and CEO Darren Woods, attributing the results to years of investment and operational improvements.
Woods added that investments, technology and $16.9 Bn in structural cost savings since 2019 had strengthened the company’s earnings potential.
Upstream earnings fell to $7.3 Bn from $9.2 Bn in the second quarter, reflecting lower prices and an accelerated impact from production entitlements in Guyana.
Energy Products earnings more than doubled to $9.1 Bn from $4.1 Bn, supported by higher margins and stronger operational performance.
Chemical Products earnings declined to $725 Mn from $1.2 Bn as margins weakened, while Specialty Products earnings rose to $1.3 Bn from $969 Mn on higher base-stock margins.
Upstream production remained broadly stable at 4.5 mmboe/d, compared with 4.51 mmboe/d in the previous quarter. Energy Products sales increased to 5.75 mmb/d from 5.70 mmb/d.
ExxonMobil said it had reduced net debt by nearly $11 Bn since the beginning of the year. Net debt stood at $22.1 Bn at the end of September, comprising $34.3 Bn in total debt less $12.2 Bn in cash and cash equivalents.
The company also reported progress in its global projects, reaching cumulative production milestones of 1 Bn barrels each at Guyana and Kearl in Canada, and 100 million tonnes at PNG LNG.
It assumed operatorship of the Papua LNG project and agreed to increase its working interest in the project to 34%, while raising its stake in Mozambique’s Rovuma LNG projects to 50%.
