Exxon Mobil (XOM) investor relations material

Executive summary

• Achieved GAAP earnings of $14.5B for 2Q26 and $18.7B year-to-date; adjusted earnings reached $14.7B for the quarter and $23.5B YTD.

• Cash flow from operations was $23.6B for 2Q26 and $32.3B YTD, with free cash flow of $17.2B for the quarter.

• Highest upstream production in over two decades, excluding Middle East disruptions; record Permian and diesel production.

• Fifth Guyana FPSO set to start production in 4Q26, adding 250 Kbd capacity.

• Cumulative structural cost savings increased to $16.3B since 2019, surpassing all other IOCs.

Financial highlights

• 2Q26 GAAP earnings: $14.5B; adjusted earnings: $14.7B; EPS: $3.48 GAAP, $3.52 adjusted.

• YTD GAAP earnings: $18.7B; adjusted earnings: $23.5B; EPS: $4.47 GAAP, $5.60 adjusted.

• Cash capex: $6.8B for 2Q26, $13.0B YTD; 2026 planned investments 20% higher than nearest IOC.

• Shareholder distributions: $9.4B in 2Q26, including $4.3B in dividends and $5.1B in share repurchases.

• Net debt to capital improved to 11%; net debt to EBITDA at 0.3x.

Outlook and guidance

• Expect ~$25B earnings growth and ~$35B cash flow growth from 2024-2030 at constant prices/margins.

• Upstream production guidance unchanged for 2030; Guyana net entitlement to decrease by ~100 Kbd in 3Q26.

• Scheduled maintenance expected to be lower in 3Q26; corporate and financing expenses forecasted at $0.8B–$1.0B.

• Strait of Hormuz closure for the quarter would reduce Middle East production by ~750 Koebd vs. 2025.

• Declared a third-quarter dividend of $1.03 per share, payable September 10, 2026.