ExxonMobil (NYSE:XOM) Issues Quarterly Earnings Results

Key Points

• ExxonMobil delivered strong quarterly performance, reporting $3.52 in adjusted EPS—slightly below the $3.56 consensus—but revenue of $114.53 billion exceeded estimates. Net income reached $14.5 billion, more than double the year-ago result.
• Cash generation was robust, with $23.6 billion in operating cash flow, more than $17 billion in free cash flow, a $7 billion reduction in net debt, and over $9 billion returned to shareholders through dividends and buybacks.
• Record Permian production and accelerating Guyana project returns support ExxonMobil’s longer-term growth, while refinery maintenance, Middle East-related disruptions, and geopolitical risks remain concerns. Analysts maintain a “Moderate Buy” consensus with a $163.45 price target.

ExxonMobil (NYSE:XOM - Get Free Report) released its quarterly earnings results on Friday. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04), FiscalAI reports. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. During the same period last year, the firm earned $1.64 EPS.

Here are the key takeaways from ExxonMobil's conference call:

• ExxonMobil reported exceptionally strong second-quarter results, with $14.5 billion in earnings, $23.6 billion in operating cash flow, more than $17 billion in free cash flow, and a $7 billion reduction in net debt. The company returned more than $9 billion to shareholders through dividends and buybacks.
• Guyana production reached approximately 900,000 barrels per day, while the fifth FPSO remains on track to start up by year-end. ExxonMobil said investment recovery has accelerated by roughly two years, creating an inflection toward higher free cash flow despite lower production entitlements, and it is evaluating a potential ninth FPSO.
• Permian production set another record above 1.8 million oil-equivalent barrels per day, supported by extended-reach laterals and new technologies. Management said its technology portfolio is approaching its goal of more than doubling recovery while reducing wells and capital intensity.
• Refining and specialty products benefited from Middle East-related supply disruptions, with record second-quarter diesel production, Gulf Coast refinery reliability above 95%, and record basestock margins and specialty-product earnings. Management expects refining margins to remain robust while supply capacity remains constrained.
• ExxonMobil said it is continuing an enterprise-wide operating and digital transformation, including the integration of upstream operations into a global operations organization. Structural cost savings have reached $16.3 billion since 2019, with a target of $20 billion by 2030, although the company still faces geopolitical, regulatory, and execution risks.

ExxonMobil Stock Performance

Shares of XOM stock traded down $1.32 during midday trading on Friday, hitting $155.65. The company had a trading volume of 15,660,812 shares, compared to its average volume of 19,617,658. The stock has a market cap of $645.16 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 0.64 and a beta of 0.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The company's 50 day simple moving average is $145.65 and its 200 day simple moving average is $148.55. ExxonMobil has a 52-week low of $105.53 and a 52-week high of $176.41.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on XOM shares. BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the stock a "neutral" rating in a research report on Friday, April 17th. Sanford C. Bernstein reduced their price target on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research report on Monday, May 11th. Mizuho decreased their price target on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday, July 9th. Piper Sandler assumed coverage on shares of ExxonMobil in a research report on Thursday, July 23rd. They set a "neutral" rating and a $158.00 price objective on the stock. Finally, Bank of America lowered shares of ExxonMobil from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $154.00 to $158.00 in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, ExxonMobil has a consensus rating of "Moderate Buy" and a consensus price target of $163.45.

Institutional Investors Weigh In On ExxonMobil

Several hedge funds have recently modified their holdings of XOM. Fortis Capital Management LLC raised its position in ExxonMobil by 2.0% during the 4th quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company's stock valued at $434,000 after purchasing an additional 70 shares in the last quarter. Wealthspire Retirement LLC grew its position in shares of ExxonMobil by 1.2% in the 4th quarter. Wealthspire Retirement LLC now owns 6,291 shares of the oil and gas company's stock worth $757,000 after buying an additional 72 shares during the last quarter. Capital Planning Advisors LLC raised its stake in shares of ExxonMobil by 1.5% during the 4th quarter. Capital Planning Advisors LLC now owns 4,972 shares of the oil and gas company's stock worth $598,000 after acquiring an additional 73 shares in the last quarter. Colonial Trust Advisors raised its stake in shares of ExxonMobil by 0.4% during the 4th quarter. Colonial Trust Advisors now owns 20,188 shares of the oil and gas company's stock worth $2,429,000 after acquiring an additional 77 shares in the last quarter. Finally, Strategic Planning Inc. lifted its position in ExxonMobil by 0.3% during the fourth quarter. Strategic Planning Inc. now owns 28,103 shares of the oil and gas company's stock valued at $3,382,000 after acquiring an additional 79 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil reported $14.5 billion in second-quarter net income, or $3.48 per share, while adjusted earnings were $3.52 per share—more than double the year-ago result. Revenue reached approximately $114.5 billion, exceeding consensus expectations, and operating cash flow was strong. ExxonMobil Announces Second-Quarter 2026 Results
• Positive Sentiment: Higher crude prices and improved refining margins, driven partly by heightened Middle East tensions, helped produce ExxonMobil’s largest quarterly profit in four years. The earnings also supported the broader energy sector and ETFs with significant XOM exposure. ExxonMobil quarterly profit hits four-year high but misses analyst estimates
• Positive Sentiment: Record Permian Basin production and progress in Guyana are longer-term positives. ExxonMobil has recovered its initial investment in the Guyana oil project, potentially increasing future cash generation from the asset. Guyana set for bigger oil profits as ExxonMobil recoups initial costs
• Neutral Sentiment: Management remains bullish on its Middle East growth plans, but the Iran conflict temporarily took roughly 500,000 barrels per day of ExxonMobil production offline, creating operational and geopolitical uncertainty. Exxon Is Bullish on Mideast Despite Half-Million-Barrel War Hit
• Negative Sentiment: Adjusted EPS of $3.52 narrowly missed Wall Street’s $3.56 consensus estimate, with some estimates as high as $3.68. Scheduled refinery maintenance limited fuel-making profits, causing investors to discount the otherwise strong headline results. ExxonMobil Q2 2026 earnings miss on refinery maintenance

About ExxonMobil

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

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