ExxonMobil (NYSE:XOM) Posts Earnings Results, Misses Expectations By $0.04 EPS

Posted by Francis Steltz on Jul 31st, 2026

ExxonMobil (NYSE:XOM – Get Free Report) posted its quarterly earnings data on Friday. The oil and gas company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. During the same period in the previous year, the business 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

XOM traded down $1.32 on Friday, reaching $155.65. 15,660,812 shares of the stock were exchanged, compared to its average volume of 19,617,658. The company’s 50-day moving average price is $145.65 and its 200 day moving average price is $148.55. ExxonMobil has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. 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 firm has a market capitalization of $645.16 billion, a PE ratio of 26.25, a PEG ratio of 0.64 and a beta of 0.17.

Trending Headlines about ExxonMobil

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Galaxy Group Investments LLC acquired a new stake in shares of ExxonMobil during the fourth quarter worth about $38,000. Safe Harbor Fiduciary LLC acquired a new position in ExxonMobil in the 4th quarter worth approximately $48,000. Sfam LLC purchased a new position in ExxonMobil during the 4th quarter worth approximately $63,000. Chapman Financial Group LLC purchased a new position in ExxonMobil during the 2nd quarter worth approximately $65,000. Finally, Wealth Watch Advisors INC acquired a new stake in ExxonMobil during the 3rd quarter valued at approximately $72,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XOM has been the subject of a number of research analyst reports. Weiss Ratings cut ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Scotiabank upped their price objective on shares of ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. TD Cowen cut their price objective on shares of ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, July 2nd. Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company lifted their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, ExxonMobil currently has an average rating of “Moderate Buy” and an average target price of $163.45.

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About ExxonMobil

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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.