Exxon Mobil Corp
XOM.US Full Coverage
Last updated:
Volume
52W avg
Day Range
52W High
52W Low
Market Cap
Div Yield
Forward P/E
P/B
Headlines
FY2026 Q1
ExxonMobil’s Q1 adjusted earnings rose 15.7% YoY to $8.8 billion, while GAAP profit was limited to $4.2 billion by a $3.9 billion timing hit from derivatives and a $0.7 billion identified item. Upstream output increased 8% YoY, setting a new quarterly record in Guyana, and the Energy Products segment drove adjusted earnings up 227% to $2.8 billion, offset by two damaged Qatar LNG trains that affect roughly 3% of global production and will need 3‑5 years to repair. The firm maintained its $9.2 billion shareholder return, reaffirmed long‑term guidance, and signaled a more cautious outlook on low‑carbon power for data‑center customers.
Adjusted EPS (Excl. Timing Effects)
$2.09
↑ 20.8% YoY
GAAP EPS (Diluted)
$1.00
↓ 43.2% YoY
Operating Cash Flow (U.S. GAAP)
$8.7B
↓ 32.8% YoY
Oil-Equivalent Production
4,594 koebd
↑ 0.9% YoY
Energy Products Adj. Earnings (Excl. Timing Effects)
$2.8B
↑ 227.0% YoY
What We're Watching
Risk
Middle East Disruption & Qatar Restart
📅
Next Quarter
What to Monitor
The reopening of the Strait of Hormuz and the subsequent restart timeline and ramp-up rate of the undamaged LNG trains in Qatar.
Why It Matters
The swift and safe restart of these operations is a critical near-term driver for volume and cash flow recovery. Management anticipates a 1-2 month lag to normalize flows post-reopening.
Financial
Unwinding of Financial Timing Effects
📅
Next Quarter
What to Monitor
The magnitude of the reversal of the -$3.9 billion unfavorable timing effect reported in Q1. Monitor for a corresponding positive impact on Q2 earnings.
Why It Matters
This will be a key test of management's explanation that the effect is purely a temporary accounting mismatch. A successful unwind would validate the profitability of the underlying trading strategy, while a partial or delayed reversal could raise questions.
Risk / Strategic
Damaged Qatar Trains Repair Plan
📅
Ongoing
What to Monitor
A more definitive repair timeline than the current 3-5 year estimate, and clarification on the commercial structure of the repair investment, particularly concerning contract extensions.
Why It Matters
The repair of these assets represents a multi-year impact on ~3% of global production and significant capital outlay. A clearer plan is needed to assess the long-term impact on production forecasts and returns.
Strategic
Commercial Progress on Low Carbon Data Centers
📅
By Year-End 2026
What to Monitor
A return to more optimistic commentary or the announcement of a signed offtake agreement with a hyperscaler for low-carbon power.
Why It Matters
The more cautious tone this quarter suggests commercial hurdles. Tangible progress is needed to validate this key pillar of the Low Carbon Solutions growth strategy and demonstrate a viable market for high-cost decarbonization solutions.
Opportunity
Venezuela Heavy Oil Development
📅
Long-Term
What to Monitor
Any changes to Venezuela's fiscal and legal framework that would create an attractive investment opportunity, or any initial technical or commercial agreements.
Why It Matters
The CEO highlighted this as a massive, long-term resource opportunity. Concrete steps toward developing this resource would represent a significant upside catalyst not currently in the company's long-term plan.
