Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
ExxonMobil's second quarter of fiscal 2026 was defined by a supportive commodity price backdrop and years of portfolio high-grading, as management pointed to higher prices, advantaged volume growth, and structural cost savings as the primary drivers behind a more than two-fold increase in earnings. The quarter’s results were tempered by identified items, including roughly $2.4 billion in impairments and financial reserves, largely tied to Middle East supply disruptions that also reduced upstream production and refining throughput. While these headwinds partially offset gains from strong refining margins and Permian/Guyana growth, cash flow from operations and asset sales rose sharply, enabling robust shareholder returns. The results underscore the tension between broad-based operating strength and the concentrated impact of geopolitical instability.
Revenue
$116.02B
+42.34% YoY
EPS (Diluted)
$3.48
+112.20% YoY
Filed · Source: SEC EDGAR 10-Q filing
Source: SEC XBRL
ExxonMobil Holdings (XOM) reported Q2 FY2026 revenue of $116.02B, up 42.3% year over year. XOM's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Mar 2026 | 1.16 | 1.01 | Beat +14.3% |
| Dec 2025 | 1.71 | 1.70 | Beat +0.5% |
| Sep 2025 | 1.88 | 1.84 | Beat +2.4% |
| Jun 2025 | 1.64 | 1.56 | Beat +5.1% |
4 reported segments · SEC XBRL
Segment revenue totals $161.14B; with -$45.13B of reconciling items (corporate, unallocated and eliminations) it ties to the $116.02B of consolidated revenue on the income statement.
Profit above is reported as net income, the measure XOM itself discloses in this filing. Each company chooses its own measure here, so these margins are not comparable with another company's.
Compiled by AI from 10-Q Item 2 of this filing
Supply disruptions in the Middle East reduced Upstream production by 116 thousand oil-equivalent barrels per day and cut Energy Products refinery throughput, while also triggering $1.2 billion in financial reserves.
Source: 10-Q Item 2 MD&A
Unprecedented global refining capacity reductions pushed industry refining margins sharply above the 10-year historical range, significantly lifting Energy Products earnings.
Source: 10-Q Item 2 MD&A
Growth from Guyana and the Permian Basin largely offset the volume impact of Middle East disruptions, with advantaged volume growth adding $1.1 billion to Upstream earnings in the quarter.
Source: 10-Q Item 2 MD&A
Structural cost savings since 2019 totaled $16.3 billion, including $1.2 billion achieved in the first half of 2026, driven by operational efficiencies and workforce reductions.
Source: 10-Q Item 2 MD&A
Management plans to invest $27–29 billion in 2026, with cash capex of $6.8 billion in Q2, up slightly year‑over‑year.
Source: 10-Q Item 2 MD&A
Compiled by AI from 10-Q Item 2 of this filing · 2 high, 3 medium, 0 low
ExxonMobil’s earnings are highly sensitive to crude oil, natural gas, and refining margin fluctuations. While Q2 FY2026 benefited from elevated prices and margins, a reversal could materially reduce profitability.
Source: 10-Q Item 2 MD&A
The company’s operations were disrupted by Middle East conflicts, reducing production and necessitating $1.2 billion in financial reserves. Ongoing geopolitical instability could further impact volumes and earnings.
Source: 10-Q Item 2 MD&A
With 2026 capex planned at $27–29 billion and significant investments in new projects, delays or cost overruns, particularly in advantaged plays like Guyana and Permian, could affect returns.
Source: 10-Q Item 2 MD&A
Changing regulations, including potential carbon taxes or emissions standards, could raise operating costs or limit asset viability, especially in high‑emission segments.
Source: 10-Q Item 2 MD&A
Global refinery capacity reductions have been a tailwind, but operational hazards, maintenance downtime, or a rebound in capacity could pressure downstream margins.
Source: 10-Q Item 2 MD&A
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 116.02 $B | 81.51 $B | +42.34% |
Net Income $B | 14.53 $B | 7.08 $B | +105.10% |
EPS (Basic) $ | 3.48 $ | 1.64 $ | +112.20% |
EPS (Diluted) $ | 3.48 $ | 1.64 $ | +112.20% |
SG&A Expense $B | 2.48 $B | 2.53 $B | -1.78% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
ExxonMobil reported Q1 FY2026 revenue of $85.1B (+2.4% YoY) but net income fell sharply by 45.8% to $4.2B, reflecting significant margin compression and higher liabilities, while the company continued returning capital to shareholders via $4.9B in buybacks.
ExxonMobil reported FY2025 revenue of $332.2B and net income of $28.8B, both declining year-over-year amid lower energy prices, while the company maintained strong operating cash flow of $52.0B and continued returning capital to shareholders through $20.3B in buybacks.
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