$XOM · ExxonMobil Holdings Corp
ExxonMobil reported Q3 2026 GAAP earnings of $15.4B ($3.72/share) on revenue of $110.5B, more than doubling year-ago earnings of $7.5B. Adjusted EPS came in at $4.23, with free cash flow of $19.1B. The company announced a $20B share repurchase program for 2027 and declared a $1.07/share Q4 dividend.
- Q3 GAAP EPS of $3.72 vs $1.76 in Q3 2025 — more than doubled year-over-year
- Revenue surged to $110.5B from $83.3B in Q3 2025, a 32.6% increase
- Adjusted EPS of $4.23 vs $3.52 in Q2 2026, a $0.71 sequential beat
- Free cash flow hit $19.1B for the quarter; net debt reduced by ~$11B year-to-date
- Announced $20B share repurchase program for 2027 and declared $1.07 Q4 dividend, marking 44 consecutive years of dividend increases
Extended-hours trading shows XOM at $186.79, up +1.91% vs the regular close of $183.29, indicating a positive initial reaction to the earnings beat and $20B buyback announcement.
ExxonMobil's earnings doubled YoY, it generated $19.1B in quarterly free cash flow, and committed to a $20B buyback — reinforcing its status as the cash-return leader among global IOCs.
ExxonMobil's results reinforce its position as the IOC leader in shareholder returns, with $9.4B in Q3 distributions. The $20B 2027 buyback and 44-year dividend streak set a high bar that peers Chevron, Shell, and BP must compete against.
Forward-looking risks include exposure to global oil and gas price volatility, geopolitical disruptions (Middle East volume impacts noted), and regulatory/tax changes including European energy sector taxes. The cautionary statement flags that current policy trends are not on a pathway to net-zero by 2050.