10-QPeriod: Q2 FY2025

EXXON MOBIL CORP Quarterly Report for Q2 Ended Jun 30, 2025

Filed August 4, 2025For Securities:XOM

Summary

ExxonMobil Corporation (XOM) reported its financial results for the quarter and six months ended June 30, 2025. For the second quarter, net income attributable to ExxonMobil was $7.1 billion ($1.64 per diluted share), a decrease from $9.2 billion ($2.14 per diluted share) in the same period last year. This decline was primarily driven by lower crude oil prices, weaker chemical realizations, and increased expenses related to growth initiatives, partially offset by higher volumes from advantaged Upstream investments and structural cost savings. For the first six months of 2025, net income attributable to ExxonMobil was $14.8 billion ($3.40 per diluted share), compared to $17.5 billion ($4.20 per diluted share) in the first six months of 2024. The company continued to prioritize shareholder returns, distributing $8.6 billion in dividends and repurchasing $9.8 billion of common stock year-to-date. Despite lower net income, ExxonMobil maintained a strong balance sheet with a debt-to-total capital ratio of 12.6% as of June 30, 2025.

Financial Highlights

41 data points
Beta

Revenue

$81.51B

Net Income

$7.08B

8.7% Net Margin

EPS (Diluted)

$1.64

Total Assets

$447.60B

Cash & Equivalents

$15.71B

Free Cash Flow

$5.27B

Financial Statements
Beta
Revenue$81.51B
SG&A Expenses$2.53B
Operating Expenses$70.80B
Interest Expense$145.00M
Net Income$7.08B
EPS (Basic)$1.64
EPS (Diluted)$1.64
Shares Outstanding (Basic)4.33B

Key Highlights

  • 1Net income for Q2 2025 was $7.1 billion, down from $9.2 billion in Q2 2024, attributed to lower commodity prices and higher expenses.
  • 2Earnings per diluted share for Q2 2025 were $1.64, compared to $2.14 in Q2 2024.
  • 3Year-to-date net income was $14.8 billion, a decrease from $17.5 billion in the prior year period.
  • 4The company distributed $8.6 billion in dividends and repurchased $9.8 billion of stock in the first six months of 2025.
  • 5Upstream segment earnings decreased due to lower liquid realizations, though partially offset by volume growth from the Pioneer acquisition and structural cost savings.
  • 6Chemical Products segment experienced weaker margins, significantly impacting its earnings compared to the prior year.
  • 7Cash capital expenditures for the first six months of 2025 were $12.3 billion, an increase from $11.8 billion in the same period last year.

Frequently Asked Questions

The primary drivers for the decrease in net income were weaker crude oil prices, lower chemical realizations, and higher expenses related to growth initiatives. These factors were partially offset by increased volumes from advantaged Upstream investments, such as the Permian and Guyana, and structural cost savings.

The acquisition of Pioneer Natural Resources, completed in May 2024, contributed to increased volumes from advantaged Upstream assets, particularly in the Permian region, which positively impacted earnings. The financial statements reflect the results of Pioneer from the acquisition date onwards.

ExxonMobil's capital allocation priorities are investing in competitively advantaged, high-return projects, maintaining a strong balance sheet, and sharing success with shareholders through consistent share repurchases and a growing dividend. Year-to-date 2025, the company distributed $8.6 billion in dividends and repurchased $9.8 billion of common stock.

The Chemical Products segment faced weaker margins, described as being at the bottom of the cycle, due to continued industry oversupply. The company's earnings driver analysis indicates that weaker margins decreased earnings by $560 million in the second quarter, primarily on lower North America ethane feed advantage.