ExxonMobil reports Q1 2026 GAAP earnings of $4.2 billion, down sharply from $7.7 billion in Q1 2025 due to timing effects and hedging disruptions.
Exxon Mobil posted Q1 2026 GAAP earnings of $4.2 billion, or $1.00 per share, a decline from $7.7 billion in the same period last year. The drop was driven by $3.9 billion in unfavorable timing effects from unsettled financial derivatives and a $0.7 billion charge tied to disrupted hedges amid Middle East supply issues.
Operationally, net production reached 4.6 million oil-equivalent barrels per day, supported by a record 900,000 gross barrels per day in Guyana. The company also achieved first LNG production at its Golden Pass joint venture and realized $0.6 billion in structural cost savings, bringing cumulative savings since 2019 to $15.6 billion.
Cash flow from operating activities totaled $8.7 billion, or $13.8 billion excluding margin postings. Shareholder distributions reached $9.2 billion, while capital expenditures remained within guidance at $6.2 billion for the quarter.