Q1 26 EPS
$1.16
Q1 26 Revenue
$85.14B
MISS 0.18%
Est. $85.29B
Did XOM Beat Earnings? Q1 2026 Results
ExxonMobil delivered a stronger-than-expected first quarter in 2026, posting adjusted EPS of $1.16 against a consensus estimate of $1.01, a 15.15% beat that extended the company's streak of topping earnings expectations to four consecutive quarters. … Read more ExxonMobil delivered a stronger-than-expected first quarter in 2026, posting adjusted EPS of $1.16 against a consensus estimate of $1.01, a 15.15% beat that extended the company's streak of topping earnings expectations to four consecutive quarters. Revenue came in at $85.14 billion, up 5.0% year over year and roughly in line with the $85.29 billion consensus, representing a marginal miss of just 0.18%. The headline story, however, lies beneath the GAAP figures: reported net income fell sharply to $4.18 billion from $7.71 billion a year ago, distorted by $3.88 billion in unfavorable mark-to-market timing effects on unsettled derivatives and $706 million in losses tied to Middle East supply disruptions, the same geopolitical turbulence that rattled peer operators across the sector this quarter. Strip those out, and underlying earnings rose to $8.77 billion from $7.58 billion, reflecting genuine structural improvement. Upstream production reached 4.6 million oil-equivalent barrels per day, while cumulative cost savings since 2019 hit $15.60 billion, keeping ExxonMobil on track toward its $20.00 billion target by 2030.
Key Takeaways
- • Advantaged volume growth in Guyana and the Permian Basin
- • Record Guyana production exceeding 900,000 gross barrels of oil per day
- • Cumulative structural cost savings of $15.6 billion since 2019 with $0.6 billion additional in Q1 2026
- • Strong trading and optimization results in Energy Products
- • Higher crude and gas realizations versus prior quarter
- • Improved refining margins with indicative refining margin at $16.3/barrel
XOM Forward Guidance & Outlook
ExxonMobil expects to repurchase $20 billion of shares in 2026 assuming reasonable market conditions. Cash capital expenditures are guided at $27-$29 billion for the full year. Structural Cost Savings are expected to reach $20 billion cumulative by 2030. The company emphasizes its durable platform to grow earnings, cash flow, and shareholder value through 2030 and beyond, grounded in advantaged assets, disciplined capital allocation, and execution excellence. Golden Pass LNG Train 1 is progressing toward full commercial operations, having successfully loaded its first LNG export cargo in April 2026.
XOM YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“This quarter demonstrated that ExxonMobil is a fundamentally stronger company than it was just a few years ago, built to perform through disruption and across market cycles. Events in the Middle East tested that strength with the safety of our people remaining our top priority. Those events also underscored the importance of reliable, affordable energy products and the value of the capabilities we have built to deliver them.”
— Darren Woods, Q1 2026 Earnings Press Release
XOM Earnings Trends
XOM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
XOM EPS Trend
Earnings per share: estimate vs actual
XOM Revenue Trend
Quarterly revenue: estimate vs actual
XOM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.16 | — | $85.14B | -0.18% |
| Q4 25 BEAT FY | $1.66 | $1.71 | +3.01% | $82.31B | — |
| FY Full Year | $6.95 | $6.70 | -3.66% | $332.24B | +1.45% |
| Q3 25 BEAT | $1.83 | $1.88 | +2.99% | $85.29B | +2.02% |
| Q2 25 BEAT | $1.56 | $1.64 | +4.93% | $79.48B | -1.27% |
| Q1 25 BEAT | $1.73 | $1.76 | +1.51% | $83.13B | -3.44% |