01—Abstract
Summary
Summary of the 8-K filed July 7, 2026. Cited figures are marked; the original filing is the authoritative source.
ExxonMobil Holdings Corporation furnished Exhibit 99.1 under Item 7.01 (Regulation FD) on July 7, 2026, providing a preview of factors it expects to affect second-quarter 2026 results relative to first-quarter 2026.
The company states the information is not comprehensive and is not an estimate of 2Q 2026 earnings. For 1Q 2026, U.S. GAAP earnings were $4.2 billiona, and adjusted earnings (non-GAAP) were $8.8 billion. The gap was driven mainly by estimated timing effects of $3.9 billion (Energy Products $3.4 billion, Upstream $0.5 billion) and other Middle East impacts of $0.7 billion.
Management says timing effects typically reverse in subsequent periods, and that rising prices generally produce negative timing effects. For 2Q 2026, the filing lists estimated market effects, including a change in liquids prices of $3.5 to $3.9 billionb, a change in gas prices of $(0.2) to $0.2 billion, and changes in margins of $2.0 to $2.4 billion, $1.0 to $1.2 billion and $0.3 to $0.5 billion. It also cites Middle East volume disruptions, identified impairments, and other items including reserves.
Estimated timing effects for Energy Products are $2.2 to $3.0 billionc. The filing notes that these estimates may not capture all adjustments and are subject to the finalization of the company's 2Q 2026 financial reporting process.
The company intends to publish its 2Q 2026 financial results on its website and in a Form 8-K at approximately 5:30 a.m. CT on Friday, July 31, 2026, with a contingency plan if EDGAR filing is delayed.
02—Key points
Key Highlights
- 1Q 2026 U.S. GAAP earnings were $4.2 billion; adjusted earnings (non-GAAP) were $8.8 billion, with Upstream at $6.3 billion adjusted and Energy Products at $2.8 billion adjusted.
- Estimated timing effects reduced 1Q 2026 GAAP earnings by $3.9 billion, primarily in Energy Products ($3.4 billion), and other Middle East impacts reduced them by a further $0.7 billion.
- Estimated change in liquids prices is expected to add $3.5 to $3.9 billion to 2Q 2026 results versus 1Q 2026, and estimated change in gas prices is $(0.2) to $0.2 billion.
- Estimated change in margins is expected to add $2.0 to $2.4 billion, $1.0 to $1.2 billion and $0.3 to $0.5 billion across the segments presented.
- Middle East volume disruptions are estimated to reduce 2Q 2026 results, with Upstream at $(0.8) to $(0.6) billion and Energy Products at $(0.4) to $(0.2) billion.
- 2Q 2026 identified items include Upstream impairments of $(1.0) to $(0.8) billion and other items including reserves of $(1.4) to $(1.2) billion for Upstream.
- The company plans to release 2Q 2026 results at approximately 5:30 a.m. CT on Friday, July 31, 2026, via its website and Form 8-K.
03—Questions
Frequently Asked Questions
Does this filing provide an estimate of ExxonMobil's 2Q 2026 earnings?
No. The filing states that the information is intended only to give perspective on factors affecting 2Q 2026 results relative to 1Q 2026, is not comprehensive, and is not an estimate of 2Q 2026 earnings for the Corporation. It also does not reflect operating performance, unscheduled downtime, or foreign exchange fluctuations.
Why is there a large difference between 1Q 2026 GAAP and adjusted earnings?
The filing attributes the difference mainly to estimated timing effects of $3.9 billion, of which $3.4 billion sits in Energy Products, and to other Middle East impacts of $0.7 billion. Timing effects arise because financial derivatives are marked to market at period-end while related physical shipments are valued under LIFO, and the company says these effects typically unwind over subsequent quarters.
What are the main market factors expected to affect 2Q 2026 results?
The filing estimates a change in liquids prices of $3.5 to $3.9 billion, a change in gas prices of $(0.2) to $0.2 billion, and margin changes of $2.0 to $2.4 billion, $1.0 to $1.2 billion and $0.3 to $0.5 billion. It also notes that Middle East volume disruptions and identified items such as impairments and reserves are expected to weigh on results.
When and how will ExxonMobil report its 2Q 2026 results?
The company intends to furnish its 2Q 2026 financial results by posting them on its website at www.exxonmobil.com and in a Form 8-K filed with the SEC, each at approximately 5:30 a.m. CT on Friday, July 31, 2026. If EDGAR experiences technical difficulties or the 8-K cannot be completed on time, investors should look for the information on the website at that time, and the company intends to file on EDGAR as soon as possible afterward.
04—Continue