Summary
ExxonMobil Corporation (XOM) reported a net income of $4.2 billion for the first quarter of 2026, a decrease from $7.7 billion in the same period of 2025. This decline was primarily attributed to unfavorable mark-to-market effects on derivatives and higher depreciation expenses, partially offset by improved prices, higher volumes from advantaged Upstream investments (Guyana and Permian), and structural cost savings. The company's financial position remains robust, with a commitment to capital discipline and shareholder returns, evidenced by significant share repurchases and dividends paid during the quarter. However, increased capital expenditures and a slight uptick in the debt-to-capital ratio warrant investor attention. The Upstream segment saw a decrease in earnings due to lower gas realizations and Middle East disruptions, but record Guyana production provided a partial offset. The Energy Products segment experienced a significant earnings decrease due to unfavorable derivative impacts, though margin improvements and trading results were positive. Chemical and Specialty Products segments reported lower earnings, impacted by compressed margins and increased feed costs. The company continues to navigate volatile market conditions, including geopolitical impacts on oil supply and natural gas prices, while also managing its extensive portfolio of operations and investments.
Financial Highlights
41 data points| Revenue | $85.14B |
| SG&A Expenses | $2.68B |
| Operating Expenses | $78.17B |
| Interest Expense | $295.00M |
| Net Income | $4.18B |
| EPS (Basic) | $1.00 |
| EPS (Diluted) | $1.00 |
| Shares Outstanding (Basic) | 4.20B |
Key Highlights
- 1Net income decreased to $4.2 billion in Q1 2026 from $7.7 billion in Q1 2025, primarily due to unfavorable derivative mark-to-market effects and higher depreciation.
- 2Upstream segment earnings were impacted by Middle East disruptions, though Guyana and Permian growth contributed positively.
- 3Energy Products segment earnings significantly declined due to derivative mark-to-market impacts, despite strong trading and optimization results.
- 4Cash capital expenditures increased to $6.2 billion in Q1 2026 from $5.9 billion in Q1 2025, with a planned range of $27-$29 billion for the full year 2026.
- 5The company repurchased approximately $4.9 billion of its stock and distributed $4.3 billion in dividends to shareholders during the quarter.
- 6Total debt increased to $47.7 billion at the end of Q1 2026, resulting in a debt-to-capital ratio of 15.4%, up from 14.0% at year-end 2025.
- 7Chemical and Specialty Products segments experienced compressed margins due to higher feedstock costs, leading to reduced earnings.