ExxonMobil more than doubles third-quarter earnings to $3.72 per share
Revenue rose 33% to $113.16 billion, and adjusted earnings exceeded analysts’ expectations.
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ExxonMobil reported on 30 October that third-quarter earnings more than doubled to $3.72 per share. Revenue for the three months ended in September rose 33% to $113.16 billion.
Adjusted earnings, a measure that excludes certain items from reported profit, were $4.23 per share, above the average analyst estimate of $4.12 per share.
Latest · 31 October 2026
Fortune reported that ExxonMobil’s third-quarter net profit more than doubled from the same quarter a year earlier to $15.4 billion, driven by sharply higher refining profits. The publication linked high oil prices and rising refining margins to the Iran war.
Higher prices and strong production
The Guardian attributed ExxonMobil’s performance to higher energy prices and strong production from its fields in Guyana and the Permian Basin in the southwestern US. Its US Gulf Coast refineries operated at 100% utilization, meaning they used their full capacity, while diesel production there was the second-highest on record.
ExxonMobil chairman and CEO Darren Woods said investments including the expansion of its Beaumont refinery in Texas had contributed to an approximately 40% increase in distillate production since 2019. Distillates are refined fuels that include diesel.
Drivers face higher fuel costs
AAA’s figures put consumer gasoline and diesel prices above their year-earlier levels.
| Fuel | Price per gallon | Annual change |
|---|---|---|
| Gasoline | $4.2 | Nearly $1.20 higher |
| Diesel | About $6.32 | Up 71% |
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