Exxon Mobil Earns $15.4 Billion in Third Quarter, Plans $20 Billion of Buybacks in 2027

Published October 30, 2026 at 9:20 AM EDT

Exxon Mobil earned $15.4 billion in the third quarter and said it plans to buy back $20 billion of its stock in 2027, according to the company's earnings release on Friday.

Earnings under generally accepted accounting principles were $15.413 billion, or $3.72 a share, up from $14.525 billion, or $3.48 a share, in the second quarter. Excluding identified items, adjusted earnings were $17.505 billion, or $4.23 a share, versus $14.680 billion, or $3.52, the prior quarter. The release compares results with the previous quarter and with the first nine months of 2025 rather than with last year's third quarter.

For the first nine months, earnings reached $34.121 billion, compared with $22.343 billion a year earlier.

Refining drives the gain

Energy Products, Exxon's fuels refining business, posted adjusted earnings of $9.053 billion, up 120.9% from $4.099 billion in the second quarter. Upstream adjusted earnings slipped to $7.308 billion from $9.189 billion. Chemical Products earned $725 million on an adjusted basis and Specialty Products earned $1.283 billion.

Upstream production averaged 4.496 million oil-equivalent barrels a day, compared with 4.514 million in the second quarter. Exxon said year-to-date upstream results benefited from higher prices and growth in Guyana, the Permian Basin and Golden Pass LNG, partly offset by volume impacts in the Middle East.

Cash and shareholder payouts

Cash flow from operations was $25.7 billion and free cash flow was $19.1 billion. Exxon paid out $9.4 billion to shareholders in the quarter: $4.3 billion in dividends and $5.1 billion in share repurchases.

The company declared a fourth-quarter dividend of $1.07 a share, payable Dec. 10 to holders of record on Nov. 16, and announced 2027 share repurchases of $20 billion. Exxon said it has raised its annual dividend for 44 consecutive years.

Upstream deals

Exxon said it took over as operator of Papua LNG and reached agreement to raise its working interest in the Papua LNG projects to 34% and in the Rovuma project in Mozambique to 50%.

"Markets will change, but we're positioned to continue supplying the energy and products the world needs while delivering growth in long-term value for our shareholders," Chairman and CEO Darren Woods said.

By the numbers

$15.413 billion: third-quarter GAAP earnings
$4.23: adjusted earnings per share
$25.7 billion: cash flow from operations
$19.1 billion: free cash flow
$9.4 billion: dividends and buybacks in the quarter
$20 billion: planned 2027 share repurchases

Sources

ExxonMobil press release announcing third-quarter 2026 results, issued Oct. 30, 2026

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