Oil giant ExxonMobil raked in US$14.5 billion in earnings during the second quarter of 2026, a sharp increase from the US$4.2 billion recorded during the first three months of the year.
According to the company’s second-quarter earnings report, released on July 31, earnings amounted to US$14.525 billion, or US$3.48 per share, compared with US$4.183 billion, or US$1 per share, in the first quarter. Adjusted earnings for the second quarter stood at US$14.680 billion.
ExxonMobil also reported US$23.6 billion in cash flow from operating activities and US$17.2 billion in free cash flow during the three-month period.
At the same time, the company distributed US$9.4 billion to shareholders, including US$4.3 billion in dividends and US$5.1 billion through share repurchases.
ExxonMobil Chairman and Chief Executive Officer Darren Woods said the results came during a quarter marked by disruptions.
“The second quarter was shaped by disruption, but defined by execution,” Woods said. “Markets were supportive, but our performance reflected the strength of the portfolio and operating model we have built over many years.”
The company’s Upstream business, which covers its oil and gas exploration and production operations, recorded US$7.927 billion in earnings for the quarter, up from US$5.737 billion in the first quarter. Energy Products generated US$5.465 billion, while Chemical Products and Specialty Products recorded US$1.131 billion and US$956 million, respectively.
ExxonMobil said Upstream earnings improved as production reached its highest level in more than two decades, excluding Middle East disruptions. The company also reported record Permian production of more than 1.8 million oil-equivalent barrels per day.
The earnings report also contained an update on the company’s operations in Guyana, noting that its fifth FPSO had set sail and remained on schedule for production start-up in the fourth quarter of 2026. The vessel is expected to add 250,000 barrels per day of production capacity.
For the first six months of 2026, ExxonMobil recorded total earnings of US$18.708 billion, compared with US$14.795 billion over the corresponding period in 2025.
