The mixed earnings signal may cause short-term volatility. Focus on commodity price trajectory and the impact of Middle East disruptions on future production. The strong operational execution and cash flow support the stock, but the EPS miss could weigh on sentiment. Monitor the earnings call for guidance on capex and buyback pace.
Price Chart
Executive Summary
ExxonMobil reported Q2 2026 GAAP EPS of $3.48, missing consensus of $3.80 by 8.4%, while revenue of $116.0B beat estimates of $97.7B by 18.8%. Record Permian production and highest upstream output in two decades drove strong operational performance, but higher depreciation and $1.1B in impairments weighed on earnings. The company generated $17.2B in free cash flow and returned $9.4B to shareholders.
Key Financial Metrics
Key Facts
- GAAP EPS $3.48 vs consensus $3.80 (miss of 8.4%)
- Revenue $116.0B vs consensus $97.7B (beat of 18.8%)
- Record Permian production >1.8 Moebd; highest upstream output in 20+ years
- Free cash flow $17.2B; shareholder returns $9.4B ($4.3B dividends, $5.1B buybacks)
- Cumulative structural cost savings $16.3B vs 2019 baseline
- Impairments of $1.1B and other identified items of $1.6B in the quarter
Financial Impact
EPS miss of ~8.4% vs consensus, but revenue beat of ~18.8% and strong cash flow provide offset
Risk Factors
- Commodity price volatility (Brent averaged $104.52/bbl in Q2, down from Q1?)
- Geopolitical disruptions in Middle East and Kazakhstan
- Higher depreciation and impairment charges may persist
Market Snapshot
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0002115436-26-000006 |
| Document: livef8k2q26991.htm | 0002115436-26-000006 |
| Document: xom-20260731.htm | 0002115436-26-000006 |
| Document: 0002115436-26-000006-index-headers.html | 0002115436-26-000006 |
| Document: 0002115436-26-000006-index.html | 0002115436-26-000006 |
| Document: 0002115436-26-000006.txt | 0002115436-26-000006 |
| 8-K Data (Synthetic) | 0002115436-26-000006 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 1d ago | ANALYST-DOWNGRADE | $163.82 $164.01 | ▼ −0.12% | ▲ +0.62% | $164.01 (−0.12%) |
Aug 28, 2026 5w ago | 8-K | $156.71 $160.95 | ▲ +2.71% | ▲ +3.00% | $164.01 (+4.66%) |
Jul 31, 2026 9w ago | 8-K | $155.44 $155.05 | ▼ −0.25% | ▼ −1.66% | $164.01 (+5.51%) |
Jul 28, 2026 9w ago | ANALYST-DOWNGRADE | $153.04 $156.75 | ▼ −2.42% | ▼ −3.96% | $164.01 (−7.17%) |
Jul 23, 2026 10w ago | Court Ruling | $156.89 $156.94 | ▲ +0.03% | ▼ −0.07% | $164.01 (+4.54%) |
Jun 30, 2026 13w ago | Court Ruling | $136.72 $136.28 | ▼ −0.32% | ▼ −0.19% | $164.01 (+19.96%) |
Jun 23, 2026 14w ago | Court Ruling | $139.73 $136.90 | ▼ −2.03% | ▼ −1.98% | $164.01 (+17.38%) |
Jun 16, 2026 15w ago | ANALYST-UPGRADE | — | awaiting T+1 | — | — |
May 26, 2026 18w ago | DEFA14A | $148.00 $146.93 | ▼ −0.72% | ▼ −1.27% | $164.01 (+10.82%) |
May 15, 2026 20w ago | DEFA14A | $157.91 $160.46 | ▲ +1.62% | ▲ +1.68% | $164.01 (+3.87%) |
US Market Status
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