ExxonMobil (NYSE:XOM) Announces Quarterly Earnings Results

Posted by George Bondi on Nov 1st, 2026

ExxonMobil (NYSE:XOM – Get Free Report) announced its quarterly earnings data on Friday. The oil and gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $0.11, FiscalAI reports. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. The firm had revenue of $110.50 billion for the quarter, compared to analyst estimates of $104.89 billion. During the same period last year, the company earned $1.88 EPS.

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

Strong third-quarter financial performance generated $15.4 billion in GAAP earnings and $25.7 billion in operating cash flow. ExxonMobil invested $7 billion in the business while returning $9.4 billion to shareholders.
Refining benefited from tight global product markets and record utilization, while prior investments lifted diesel yields and helped triple underlying Energy Products unit earnings since 2019. Baytown, Baton Rouge, and Beaumont projects are expected to further increase diesel, lubricant, and chemical-feedstock output.
Upstream growth remains supported by the Permian and Guyana, where Stabroek production surpassed 1 billion barrels and the Uaru development is expected to start in the fourth quarter. ExxonMobil also expanded its LNG position by increasing interests and assuming operatorship in Papua LNG and Rovuma LNG.
ExxonMobil raised its dividend per share by 4%, marking 44 consecutive years of annual dividend growth, and plans to maintain approximately $20 billion in share repurchases in 2027, subject to market conditions.
Middle East disruptions and attacks on refining capacity are keeping fuel markets tight, with ExxonMobil estimating that normalization could take well beyond next year. Qatar LNG and UAE export logistics continue to weigh on volumes or sales timing, although management expects deferred UAE revenue to catch up as transportation routes improve.

ExxonMobil Stock Up 2.0%

Shares of NYSE XOM opened at $187.03 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. ExxonMobil has a 12 month low of $112.51 and a 12 month high of $188.50. The firm has a fifty day simple moving average of $167.76 and a two-hundred day simple moving average of $154.35. The firm has a market capitalization of $775.23 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.94 and a beta of 0.21.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

Positive Sentiment: Q3 earnings exceeded expectations. ExxonMobil reported adjusted earnings of $4.23 per share, ahead of the roughly $4.08–$4.12 analyst consensus and well above $1.88 a year earlier. Net income reached approximately $15.4 billion, while revenue also surpassed estimates. ExxonMobil Announces Third-Quarter 2026 Results
Positive Sentiment: Refining was the key profit driver. Record or unusually strong refining margins, particularly for diesel, more than offset weaker upstream results and lifted earnings, cash flow and shareholder returns. Exxon’s refining operations earned more than its oil-production business for the first time in six years. Exxon, Chevron earnings propelled by war-driven refining surge
Positive Sentiment: Shareholder distributions are expanding. ExxonMobil raised its dividend by approximately 3.9%–4% and plans $20 billion in share repurchases during 2027. The company also highlighted production gains from Guyana, Kearl and PNG LNG, supporting its long-term growth profile. ExxonMobil Raises Dividend by 3.9%, Sets $20 Billion 2027 Buyback Plan
Positive Sentiment: Higher oil prices provided a favorable backdrop. Brent crude approached $120 per barrel as Middle East tensions and other geopolitical disruptions tightened energy markets. Investors also showed bullish positioning through unusually heavy call-option activity.
Neutral Sentiment: ExxonMobil CEO Darren Woods said global refining disruptions may not have a quick fix. While this could sustain margins, it also underscores continuing geopolitical and operational uncertainty. The company and Chevron additionally canceled executive travel to a Gulf energy conference because of security concerns. ExxonMobil CEO Sees No Quick Fix for Global Refining Disruptions
Negative Sentiment: After a powerful rally, XOM offers new investors a substantially lower dividend yield than it did at the start of the year. Its valuation and dependence on elevated, potentially temporary refining margins may limit further upside if oil prices or fuel spreads retreat.

Analyst Upgrades and Downgrades

Several research firms have recently commented on XOM. Jefferies Financial Group increased their price objective on ExxonMobil from $184.00 to $200.00 and gave the company a “buy” rating in a report on Monday, August 17th. BNP Paribas Exane reduced their price target on ExxonMobil from $165.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. William Blair began coverage on shares of ExxonMobil in a research note on Wednesday. They issued a “market perform” rating for the company. Freedom Capital raised shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of ExxonMobil from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $167.70.

Read Our Latest Analysis on XOM

ExxonMobil Company Profile

(Get Free Report)

Exxon Mobil Corporation, doing business as ExxonMobil (NYSE:XOM), is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.