ExxonMobil reported third-quarter 2026 earnings of $15.4 billion, or $3.72/share, double the $7.5 billion, or $1.76/share, it earned in the year-earlier quarter. Earnings rose from $14.5 billion, or $3.48/share, in the second quarter. Adjusted earnings were $17.5 billion, up from $14.7 billion in second-quarter 2026.

The improvement was driven largely by the company's Energy Products business, which benefited from elevated refining margins amid disruptions to global fuel supplies linked to the Middle East conflict and attacks on Russian refining infrastructure.

Segment results

Adjusted Energy Products earnings rose to $9.1 billion from $4.1 billion in the second quarter. ExxonMobil reported strong refinery operations, including 100% crude-unit utilization at its US Gulf Coast refineries and the second-highest diesel production from those refineries on record.

Upstream adjusted earnings declined to $7.3 billion from $9.2 billion in the preceding quarter, primarily reflecting lower crude oil prices and accelerated Guyana production-entitlement effects.

Total oil and gas production averaged 4.50 MMboe/d for the quarter, compared with 4.51 MMboe/d in the second quarter. Year-to-date upstream earnings benefited from higher prices and production growth in Guyana, the Permian basin, and Golden Pass LNG, partly offset by disruptions affecting Middle East output.

Chemical Products adjusted earnings fell to $725 million from $1.2 billion in the second quarter, as margins declined, partly offset by growth in high-value product volumes on seasonal Asia-Pacific demand, while Specialty Products earnings increased to $1.3 billion on stronger basestock margins.

Cash flow and distributions

Cash flow from operations totaled $25.7 billion, and free cash flow was $19.1 billion. ExxonMobil distributed $9.4 billion to shareholders in the quarter, including $4.3 billion in dividends and $5.1 billion in share repurchases.

The company announced plans to repurchase $20 billion of shares in 2027, subject to market conditions, and raised its fourth-quarter dividend to $1.07/share.

For the first 9 months of 2026, ExxonMobil reported earnings of $34.1 billion, compared with $22.3 billion in the corresponding period of 2025.

Project milestones

ExxonMobil assumed operatorship of Papua LNG and agreed to increase its working interest in LNG projects in Papua to 34% and in Rovuma, Mozambique, to 50%. It remains operator at Rovuma. The company also reached cumulative production of 1 billion bbl at both Guyana and Kearl and 100 million tonnes at PNG LNG.

The company cited $16.9 billion of structural cost savings since 2019.