Exxon Mobil Corporation reported first-quarter 2026 earnings of US$4.2 billion, or US$1.00 per share, the company said on May 1, 2026, as production growth in Guyana helped offset impacts from Middle East supply disruptions.
Earnings excluding identified items were US$4.9 billion, or US$1.16 per share. When adjusted further for unfavorable timing effects, earnings reached US$8.8 billion.
Cash flow from operations totaled US$8.7 billion, or US$13.8 billion excluding margin postings. Shareholder distributions amounted to US$9.2 billion, including US$4.3 billion in dividends and US$4.9 billion in share repurchases.
Darren Woods, Chairman and Chief Executive Officer, said the quarter reflected the company’s ability to operate through market disruptions.
“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,” he said.
According to Woods, operational improvements and cost reductions supported performance.
“That foundation gives us a durable platform to grow earnings, cash flow, and shareholder value through 2030 and beyond,” he added.
Upstream earnings were US$5.7 billion, down from US$6.8 billion in the same period last year. The company said higher depreciation, divestments, and disruptions in Kazakhstan were partly offset by increased output from Guyana and the Permian Basin.
Total net production reached 4.6 million barrels of oil equivalent per day. In Guyana, output exceeded 900,000 barrels per day for the quarter, marking a new production record. The company said first-quarter results were affected by US$0.7 billion in losses tied to financial hedges linked to Middle East supply disruptions. Unfavorable timing effects of US$3.9 billion were also recorded due to differences between derivative valuations and physical transactions.
ExxonMobil reported structural cost savings of US$15.6 billion since 2019, including US$600 million achieved during the quarter. The company expects total savings to reach US$20 billion by 2030.
Capital expenditures were US$6.2 billion in the quarter, within the company’s full-year guidance of US$27 billion to US$29 billion.
The company declared a second-quarter dividend of US$1.03 per share, payable on June 10, 2026, to shareholders on record as of May 15, 2026.
Exxon holds a 45% interest in Guyana’s Stabroek Block. Hess holds 30%, while CNOOC holds a 25% interest.
