ExxonMobil reported its first‑quarter 2026 financial results, posting an adjusted earnings per share of $1.16 and total revenue of $85.14 billion, a 2.4% year‑over‑year increase from $83.13 billion in Q1 2025.
The adjusted EPS of $1.16 surpassed consensus estimates that ranged from $1.07 to $1.20, while revenue of $85.14 billion exceeded the $81.24 billion to $83.09 billion range reported by analysts. Net income fell to $4.18 billion from $7.71 billion a year earlier, largely because of timing effects related to the Iran conflict and associated derivative losses.
The company’s underlying performance was supported by record production in Guyana and the startup of the Golden Pass LNG facility, which helped offset the impact of reduced output in the Middle East. Higher oil prices also contributed to the earnings beat, while disciplined cost management maintained profitability.
ExxonMobil returned $9.2 billion to shareholders during the quarter, comprising $4.3 billion in dividends and $4.9 billion in share repurchases, continuing its long‑term commitment to capital return.
Management reiterated its capital‑expenditure guidance of $27 billion to $29 billion for the full year, a level consistent with prior guidance and reflecting confidence in ongoing investment plans.
CEO Darren Woods said the company remains fundamentally stronger than in previous years, noting that events in the Middle East tested its resilience while underscoring the importance of reliable, affordable energy and the capabilities built to deliver it.
Investors reacted cautiously, with some concern over the geopolitical headwinds and the impact of derivative timing on earnings quality, resulting in a mixed market response.
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